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Iulian Ernst
Senior Editor

Iulian studied physics at the University of Bucharest, and he sees himself as a physicist in the broadest sense of the word. He also studied economics at Charles University in Prague and Central European University in Budapest, after a master’s program in business administration at Bucharest Academy of Economic Studies. Since recently, he’s been exploring coding and data analysis for business and economics. As a freelancer, he worked for nearly two decades as an analyst for ISI Emerging Markets, Euromonitor International, Business New Europe, but also as a consultant for OMV Petrom and UkrAgroConsult. Iulian was part of the founding team of Ziarul Financiar. At Romania Insider, which he joined in 2018, he is reviewing the latest economic developments for the premium bulletins and newsletters. He would gladly discuss topics such as macroeconomics, emerging markets, Prague, energy sector including renewable, Led Zeppelin, financial services, as well as tech start-ups and innovative technologies. Email him at iulian@romania-insider.com. 

 

EY argues Romania should keep flat tax rate, improve tax collection

Romania "is not ready" to abandon the flat [income] tax rate, which "has served the country well" in the last 17 years, according to the head of tax and legal advisory at EY Romania, Alex Milcev.

The alternative - a progressive income tax system - is complicated and requires a complex IT system, he argued, Ziarul Financiar reported.

In exchange, he suggests that the advances in the informatization of the tax system driven by the COVID-19 crisis are a good opportunity for Romania to reduce the VAT Gap - or increase the VAT collection.

"The rise of informatization due to the pandemic is a real chance to increase collection without increasing taxes. It is the safest and simplest source of tax collection without the measure affecting the business environment for consumers," said Milcev.

On a more realistic note, the EY expert says that the Romanian tax authorities will probably choose a third way to increase the tax collection next year: more tax inspections.

"We anticipate that in 2021 taxpayers will get more frequent and applied tax inspections. 2021 will be the year of fiscal controls."

iulian@romania-insider.com

(Photo source: Lovelyday12/Dreamstime.com)

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Profile picture for user iuliane
Iulian Ernst
Senior Editor

Iulian studied physics at the University of Bucharest, and he sees himself as a physicist in the broadest sense of the word. He also studied economics at Charles University in Prague and Central European University in Budapest, after a master’s program in business administration at Bucharest Academy of Economic Studies. Since recently, he’s been exploring coding and data analysis for business and economics. As a freelancer, he worked for nearly two decades as an analyst for ISI Emerging Markets, Euromonitor International, Business New Europe, but also as a consultant for OMV Petrom and UkrAgroConsult. Iulian was part of the founding team of Ziarul Financiar. At Romania Insider, which he joined in 2018, he is reviewing the latest economic developments for the premium bulletins and newsletters. He would gladly discuss topics such as macroeconomics, emerging markets, Prague, energy sector including renewable, Led Zeppelin, financial services, as well as tech start-ups and innovative technologies. Email him at iulian@romania-insider.com. 

 

EY argues Romania should keep flat tax rate, improve tax collection

Romania "is not ready" to abandon the flat [income] tax rate, which "has served the country well" in the last 17 years, according to the head of tax and legal advisory at EY Romania, Alex Milcev.

The alternative - a progressive income tax system - is complicated and requires a complex IT system, he argued, Ziarul Financiar reported.

In exchange, he suggests that the advances in the informatization of the tax system driven by the COVID-19 crisis are a good opportunity for Romania to reduce the VAT Gap - or increase the VAT collection.

"The rise of informatization due to the pandemic is a real chance to increase collection without increasing taxes. It is the safest and simplest source of tax collection without the measure affecting the business environment for consumers," said Milcev.

On a more realistic note, the EY expert says that the Romanian tax authorities will probably choose a third way to increase the tax collection next year: more tax inspections.

"We anticipate that in 2021 taxpayers will get more frequent and applied tax inspections. 2021 will be the year of fiscal controls."

iulian@romania-insider.com

(Photo source: Lovelyday12/Dreamstime.com)

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