An alliance of opposition parties in Romania has pledged to cut several types of taxation should they win the election scheduled for November 28.
The financial newspaper Ziarul Financiar revealed earlier this week that an alliance comprised of the opposition liberals (PNL) and democrats (PD) intends to cut income and profit taxes as well as social security contributions.
The ruling Social Democratic Party (PSD) recently approved cuts in all three of these taxes, including a cut to 14% from 18% in the lowest income tax bracket, a reduction from 40% to 38% in the highest tax bracket and a decrease in corporate tax to 15% from 19%.
These changes are due to take place next year.
The leader of the opposition group, the ex-Prime Minister Theodor Stolojan, has indicated that further details of their tax cut plans are to be released later this month.
Romania is hopeful of joining the European Union in 2007.
According to the latest opinion polls, the PSD have marginally more support at 39%, whilst the PNL/PD alliance has 34%.
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