Romanian Bank Tax Plans Criticized by Experts

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The European Bank for Reconstruction and Development (EBRD)and the International Finance Corporation (the IFC) are two think-tanks that are independently reviewing harmful tax practices in Europe. They identified new banking sector taxes in Romania and have lodged a complaint with the Romanian government.

In an unconventional move, the UK-based EBRD and IFC, who are part of the World Bank sent a formal letter to Bucharest last month outlining their apprehensions about the plans.