FIC calls for stable and predictable fiscal system in Romania

Romania is facing a challenging economic context due to the high energy prices, inflation, and geopolitical instability, but the Foreign Investors Council (FIC) argues that the current budgetary challenges must be solved through a series of sustainable measures for the Romanian economy, measures aimed at addressing current problems, but without damaging the country's economic future by overburdening companies or generating a perception of regulatory instability, and by doing so discouraging private investment and reducing the competitive advantages.

The stability and predictability of the tax system must be a priority for the authorities in order to maintain a stable and attractive business environment.

Only in these conditions will the private sector be motivated to continue investing in Romania and to provide jobs for its citizens.

Any change in the fiscal framework without impact assessments and dialogue with the business community could compromise the potential for economic development, which is mainly based on attracting foreign direct investment.

As resulted from the latest FIC Study, the taxes paid by the FIC member companies have a significant direct contribution to supporting the state budget, the economic growth registered in Romania, as well as to building wealth.

The results show a detailed picture of the major contribution of large Romanian companies with foreign capital to the state budget, the most important indicator being the level of VAT collection, which is the highest. The report/study provides details regarding the contribution of a representative sample of Romanian companies with foreign capital to tax revenues through the level of taxes paid to the state budget.

andrei@romania-insider.com

(Photo source: Dreamstime.com)

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FIC calls for stable and predictable fiscal system in Romania

Romania is facing a challenging economic context due to the high energy prices, inflation, and geopolitical instability, but the Foreign Investors Council (FIC) argues that the current budgetary challenges must be solved through a series of sustainable measures for the Romanian economy, measures aimed at addressing current problems, but without damaging the country's economic future by overburdening companies or generating a perception of regulatory instability, and by doing so discouraging private investment and reducing the competitive advantages.

The stability and predictability of the tax system must be a priority for the authorities in order to maintain a stable and attractive business environment.

Only in these conditions will the private sector be motivated to continue investing in Romania and to provide jobs for its citizens.

Any change in the fiscal framework without impact assessments and dialogue with the business community could compromise the potential for economic development, which is mainly based on attracting foreign direct investment.

As resulted from the latest FIC Study, the taxes paid by the FIC member companies have a significant direct contribution to supporting the state budget, the economic growth registered in Romania, as well as to building wealth.

The results show a detailed picture of the major contribution of large Romanian companies with foreign capital to the state budget, the most important indicator being the level of VAT collection, which is the highest. The report/study provides details regarding the contribution of a representative sample of Romanian companies with foreign capital to tax revenues through the level of taxes paid to the state budget.

andrei@romania-insider.com

(Photo source: Dreamstime.com)

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