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June 27, 2022

PwC: Romanian CEO’s, concerned about the rising tax burden

92 per cent of Romanian CEOs are concerned about the increasing tax burden, and 86 per cent of them fear the Government’s response to the fiscal deficit, according to the results of the PwC Romania CEO Survey 2014. This is the second highest concern level in the world after that of France, where all the CEOs have cited increasing tax burden as the top threat to their company’s business and well above the global average of 70 per cent. In the same time, 92 per cent of Romanian CEOs agree that companies need to pay their “fair-share” of taxes. 84 per cent consider that multinationals should be required to publish revenues, profits and taxes paid for each territory where they operate and 80 per cent agreed it was appropriate for tax authorities around the world to share freely with each other information they have on companies. “What Romanian CEOs are telling us is that the tax policy has a high impact on the competitiveness of their companies and fear that the measures meant to balance the budget have been taken mostly at their companies’ expense. In the same time, they acknowledge that the low level of tax collection is one of Romania’s vulnerabilities and strongly support initiatives to increase tax collection and combat tax evasion, which is seen as unfair tax competition. 53 per cent of Romanian CEOs expect the Government to create a more internationally competitive and efficient tax system”, stated Mihaela Mitroi, Tax and Legal Services Leader, PwC Romania in a press conference. 88 per cent of Romanian CEOs thought the government priority should be to improve the country’s infrastructure – the highest percentage in the world, while 78 per cent of them thought their government had failed to achieve this so far.

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