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October 26, 2020

AmCham Romania calls for maintaining the flat tax

Considering the public debates around opportunity of maintaining the flat tax system, the American Chamber of Commerce in Romania (AmCham Romania) representing 300 member companies, reiterates the importance of preserving the flat tax along with capping social insurance contributions, a press release informs. Such an approach of the fiscal policy is a prerequisite for maintaining Romania’s competitiveness in the region and for taxing the grey economy. Since in 2009 the implied VAT rate, calculated as ratio between collected VAT incomes and private consumption was 10.8 pc compared with 19 pc, the legal rate, in AmCham’s opinion it is essential for authorities to channel their efforts towards increasing the budget revenues primarily by improving the capacity to collect and manage budgetary revenues.

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