Romania's Finance Ministry is working on a bill that would provide the grounds for a 90% taxation of the amount of money that exceeds 9,500 RON in the salary of an employee of state-controlled companies.

The move aims to create a so-called "solidarity fund", ministry sources confirmed for Minister Sebastian Vladescu said on Monday that the Government planned to impose a "solidarity tax" on high salaries within state companies.

That means that in the case of a 10,000 RON salary of an employee at a state-controlled company, the money that exceeds 9,500 RON (500 RON) would be taxed 90%.