Large companies in Romania rally against new governing program

The largest Romanian business associations have convened for today (Friday) a press conference to protest against the fiscal measures announced by the Social Democratic Party (PSD) through the new governing program. These include the Coalition for Romania's Development (CDR), Romanian Business Leaders, the American Chamber of Commerce in Romania, the French Chamber of Commerce and Industry in Romania, the Romanian-German Chamber of Commerce and Industry and the Foreign Investors' Council. The Coalition for Romania's Development (CDR), which represents businesses in the dialogue with authorities, announced yesterday that it was surprised to learn about the recent proposals to modify the governing program. The proposed tax measures have a major impact on the Romanian economy and cannot be taken without public consultation and impact analysis, the association explained. “The business community anticipates that such changes will have profound economic effects and will cause structural changes in the Romanian economy, by inhibiting some types of activities that today support Romania's economic growth," the organization shows. The new governing program announced yesterday included several controversial measures, such as introducing a tax on turnover or the solidarity tax for people with monthly wages above RON 14,500. Romania’s President to the new Govt.: Stop the fiscal hopping! editor@romania-insider.com