At the moment, income tax (which is withheld at source) and health care contribution are paid from income on deposit if 12 minimum wages have been exceeded.
Well, since Decree 16 (regarding tax increases) came with new limits of 6, 12 and 24 salaries, this means that more Romanians will pay CASS to the state.
In other words, for example, with a deposit of 260,000 lei (about 52,800 euros at today’s exchange rate), the profit is more than 18,000 lei (if you look at the highest interest rates on the market).
This means that if someone sold an apartment or received an inheritance and put the money in a bank deposit, he will have to submit a tax return and pay 10% CASS.
*Income tax is withheld at source
With slightly higher interest rates this year and the fact that many have to pay next year, in 2024 many people earning more than 6 minimum wages will have to pay health care premiums.
As for the cap for 2024, it remains to be seen what the minimum wage will be then.
Meanwhile, new limit sizes of 6, 12 and 24 have been introduced by ANAF in the draft Single Declaration for 2023.
Mary Robinson is a renowned journalist in the field of Automobile. She currently works as a writer at 247 news reel. With a keen eye for detail and a passion for all things Automotive, Mary’s writing provides readers with in-depth analysis and unique perspectives on the latest developments in the field.