A decision will be made with the central bank, which may modify the internal rules for interest rates on the interbank market without having need Parliament’s consent.

According to the media, the Romanian Government wants to discuss with the National Bank of Romania (NBR) a possible change to the ROBOR index calculation formula or its removal as a solution to avoid paying the asset tax. A decision will be made with the central bank, which may modify the internal rules for interest rates on the interbank market without having need Parliament’s consent.

As a reminder, at the end of 2018, the Government adopted an Emergency Ordinance that introduces new taxes in several sectors of the economy, including the banking sector. According to the Ordinance, bank assets are taxed when the ROBOR average quarterly exceeds the 2% threshold, the tax system being progressive according to ROBOR.