BUSINESS

APIA: New changes to Fiscal Code to hurt automotive sector

The latest proposals regarding the changes that should be made to the Fiscal Code will have a disastrous effect on automobile and spare part producers and distributors, on garages and leasing companies, and will bring along a wave of lay-offs, says the Association of Automobile Producers and Importers of Romania (APIA), according to a press release. The association refers to proposals such as the fact that VAT will not be deducted when purchasing a passenger vehicle, to the limited deductibility of servicing expenses (30 per cent) and to the incomplete deductibility of company car repairs or maintenance.

Some of the provisions included in the draft amendments to the Fiscal Code will seriously affect all activities in the automotive sector in Romania, namely: production and distribution of passenger vehicles and spare parts and automotive servicing and maintenance, according to APIA. Other sectors such as the leasing or fuel retail will also have to suffer. ‘Should they ever be approved, these changes will cause havoc in the Romanian automotive industry’, the press release further reads.

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