Vulpoi & Toader Management, the largest independent accounting company in Romania, estimates a 25 per cent hike in its turnover this year compared to 2011, the turnover set to reach EUR 2.5 M, V&TM general manager and founder Marcel Vulpoi stated during a press conference. “The economic context of recent years has determined an increasing number of companies to opt for externalizing accounting services as a more efficient solution compared to an in-house accounting department and we took advantage of this situation,” Vulpoi stated. Likewise, for 2013 the company plans to hike its turnover by 25-30 per cent and considers taking over smaller accounting companies. In the long term the company seeks to be listed on the Regional Stock Exchange. Vulpoi considers that against the backdrop of the current economic situation there is the need to implement fiscal optimization measures such as shifting the paradigm from taxing juridical persons to taxing physical persons, simplifying VAT measures for business-to-business transactions and adopting legislative measures meant to address taxpayers that do not pay their taxes on time or that have financial difficulties.Concerning the accounting market in Romania, Vulpoi stated that the market is estimated at approximately EUR 250 M in 2012, being divided among the big international players that offer accounting services (the Big Four), large accounting companies (with turnovers of EUR 1.5-2 M) and small accounting companies, including self-employed persons.