Romania will not tax pensions under EUR 600
<p>Pensions under RON 3,000 (EUR 600) in Romania will no longer be taxed starting October 1, 2024, minister of labor Simona Bucura-Oprescu has announced.&nbsp;</p>

<p>The decision, supported by prime minister Marcel Ciolacu, raises the current tax exemption threshold from RON 2,000 to RON 3,000.&nbsp;</p>

<p>PM Ciolacu emphasized the fairness of this measure, stating it would be implemented through an emergency ordinance. He highlighted that approximately 800,000 pensioners would benefit from this recalibration.&nbsp;</p>

<p>"I believe this approach - raising the tax exemption threshold to RON 3,000 - is the right one," Ciolacu said during a press conference, quoted by <a href="https://www.agerpres.ro/politica/2024/08/27/ciolacu-neimpozitarea-pensiilor-pana-la-3-000-de-lei-o-masura-corecta-va-fi-aprobata-in-baza-unei-ordonante-de-urgenta--1346047?mc_cid=0b92cd282c&amp;mc_eid=cd1f92f96c" rel="noopener" target="_blank">Agerpres</a>.&nbsp;</p>

<p>The financial impact of this measure is estimated at RON 800 million (EUR 161 mln).&nbsp;</p>

<p>Despite the budgetary implications, Marcel Ciolacu indicated that the overall cost is manageable, reinforcing the government's commitment to supporting pensioners during this period.&nbsp;</p>

<p>This move comes amid a wider reform of the pension system in Romania, which included the recalculation of all state pensions under new principles. The authorities estimated that about 3 million retirees will get higher pensions starting September 1, 2024, following the adjustments.</p>

<p><em>iulian@romania-insider.com</em></p>

<p><em>(Photo source:&nbsp;Inquam Photos /&nbsp;<a href="https://www.inquamphotos.com/users/malinanorocea">Malina&nbsp;Norocea</a>)</em></p>