Romania goes up in financial complexity index
Accounting and tax compliance has become more complicated in Romania in the last year, according to TMF Group’s Financial Complexity Index 2018.
Romania ranks 17th in this year’s ranking, up from 54th in 2017.
Accounting and tax compliance in Romania has become even more complex than in Venezuela and Ukraine.
Of the countries in the region that Romania competes with for attracting foreign investments only Croatia has a more complex fiscal environment, ranking 12th. Meanwhile, Bulgaria has one of the simplest fiscal systems, ranking 65th. Czech Republic is 61th, Poland is 51st and Hungary is 48th.
China has the most complex regulation for accounting and tax compliance, followed by Brazil and Turkey, while Italy ranks fourth. The Cayman Islands have the simplest tax regulations.