The Foreign Investors Council (FIC) supports the need for reform of the tax system, "but this must be analyzed from the point of view of medium and long-term sustainability and through prior consultation with the business environment."
"In this macroeconomic context, it is necessary for the Government to implement sustainable measures for the budget and the economy, aimed at ensuring fiscal equity, improving collection, adjusting imbalances and reducing gray areas, and stimulating private investment, which is a solution to stabilize and constantly grow the economy. At the same time, those measures that may lead to blocking the economy by discouraging investments or by burdening citizens with hyperinflation must be avoided. FIC reiterates that it is necessary for Romania to have a holistic approach to the fiscal framework, fiscal-budgetary policies, fiscal administration and wage policies.
The business environment is the engine of the economy and the main contributor to the state budget, so we believe that all decisions with economic and fiscal impact should be taken by consulting the private environment and substantiated by studies and analyses that can estimate the short-term and long-term impact. The recently circulated option of taxation of turnover may generate transparency problems from an economic point of view, with companies being treated differently depending on their structure.
Such a tax creates unequal competition conditions among competitive producers of similar goods. And also, such a minimum tax established by reference to turnover would also violate the principle of contributory capacity and cannot be considered, under any circumstances, as ensuring the proportionality and reasonableness of the tax burden. Large investors draw attention to the fact that the introduction of taxation of a percentage of turnover may lead to a slowdown or even contraction of the Romanian economy by discouraging the main contributors to the state budget and at the same time, endangering the country's competitiveness in attracting new investments in relation to other states in the area," a statement from the Foreign Investors Council (FIC) states.
