Tax and legal experts call for fiscal predictability

Newsroom 18/10/2010 | 12:42

Romania lacks a coherent fiscal strategy for the medium- and long-run, which is seriously undermining the country’s credibility as an investor-friendly economy, agreed legal and tax experts present at the Tax & Law – New fiscal measures: effects and consequences event, organized by Business Review last week.

From the controversial minimum tax to the VAT increase and the even more controversial registration for the Registry of the Intra-Community Operators, 2010 has brought a lot of changes to the local fiscal scene. And not always those needed in times of recession, whether by local firms or by potential investors, company representatives argued. Speaking at the event, Andreea Paul Vass, personal counselor of Prime Minister Emil Boc, announced that currently there is a lot of pressure from the Democrat-Liberal Party (PDL) to reduce the flat tax to 10-12 percent. Gabriel Biris, founding partner of Biris Goran, said that Romania had reached a stage at which there were many fiscal areas which could not be patched up. Furthermore, other speakers at the BR event voiced the need for holding legislation which could attract groups of companies to the country as the fiscal competition among European member grows fiercer.

Part of the Business Review legal series of conferences, the event offered an opportunity to debate the latest fiscal changes in Romania and their implications for local companies. It gathered around 80 company officials and was organized in partnership with BDO Tax, Mazars and Riff Holding International.