Tax on adverts in the media will be annulled

The tax on advertisements put on the radio stations, TV channels, online media outlets and periodicals will be annulled, Info-Prim Neo reports, quoting a bill approved by the Government. Minister of Finance Veaceslav Negruta said the document was proposed by a group of MPs. In an informative note to the bill, the authors say the institution of the advertising tax of 5% seriously affected the financial situation of the mass media organizations as advertising is one of their few sources of income. The independent local newspapers were the worst hit. On the other hand, the financial crisis led to a 35% reduction in the volume of publicity in the media outlets, while the printing industry saw a 20% decrease in production. Another argument in favor of annulling the advertising tax is the fact that at least 30 countries do not impose such a tax.