IMF

A profit tax on losses

by Craig Turp April 6, 2009 Romania

 Romania: Because you couldn’t make it up. As of May 1st, all small companies registered in Romania will have to pay a minimum amount of tax each quarter, regardless of whether they have made a profit or not. The appaling immorality of such a tax not withstanding (why should small business people pay a tax [...]

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Just Fancy That!

by Craig Turp March 12, 2009 Business

 “The last thing Romania will do is take a loan from the International Monetary Fund (IMF). We can finance the budget deficit with money set aside by the European Union for non-euro countries.” Romanian President Traian Basescu, January 16, 2009 “We are taking a loan from the IMF because we have no idea how the [...]

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