Employees generate more money for the budget

Romanians earned more in the first half of this year and paid their taxes and thus generated more money for the budget. At least this is what the trend of budgetary revenues from payroll taxes reveals, which went up by 32.2% compared with the same time in 2007. The state gained 6.01 billion RON (1.63 billion euros) from salary taxes from January through to June, an amount close to that generated by economic operators, 6.06 billion RON (1.65 billion euros), according to data provided by the Economy and Finance Ministry to ZF. The growth rate of the amounts collected from salary taxes was higher than that of the revenues from corporate profit tax, which went up almost 22%. This trend of budgetary collection can be explained by the increase in salaries, which picked up speed this year. In May for instance, Romanians earned 1,248 RON (342 euros) in net amount on average, which means a 23.3% increase compared with the same month last year and 7.5% in euros, because of the depreciation of the domestic currency. As for the gross average salary, it reached 1,704 RON (467 euros), 322 RON and 39 euros higher than in May 2007, according to the latest data of the National Statistics Institute.