Romania loses EUR 502 every second, EUR 30,000 every minute, and some EUR 16 billion every year because of tax evasion, said Mihai Daraban, President of Romania’s Chamber of Commerce and Industry.

“This represents about 70% of the tax evasion which state institutions, NGOs or the Fiscal Council calculated. In total, there are about EUR 23 billion that are lost every year due to an inefficient collection system,” Daraban added, cited by local Economica.net.

He spoke during the launch of the Fiscal Pact petition. The document was signed by institutions such as the Romanian Academy, the Chamber of Commerce and Industry, the Foreign Investors Council or the Competition Council.

“After 25 years of capitalism, we don’t want to wait for the Government to solve all the problems in Romania, but we want to effectively contribute to the creation of a lasting pact on fiscal principles,” said Angela Rosca, representative of the Romanian Business Leaders association.

editor@romania-insider.com