The new fiscal measures adopted by the Government, which will enter into force early next year, will negatively influence the investment climate in Romania. German companies, with more than 250,000 employees and investments of over EUR 9 billion in Romania, could lose confidence in the local business environment, according to the Romanian-German Chamber of Commerce and Industry (AHK Romania).

Germany has been Romania's most important economic and commercial partner for many years.

"We are complaining about the taxation’s lack of predictability. The business environment has not asked for changes in the tax area,” AHK Romania president Dragos Anastasiu said.

Foreign investors need labor force, an attractive tax framework and confidence in the environment they invest in, he added. German companies are afraid of additional costs, especially for IT firms, and argue that the tax measures applied in a very short time, their effects and the reduced tax predictability, would affect the medium and long-term investment climate and competitiveness of the country and companies.

About 7,500 German companies with more than 250,000 employees are active in Romania, most of them in Bucharest, Timis, Sibiu, Brasov and Cluj.

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editor@romania-insider.com