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August 14, 2022
AOAR President Florin Pogonaru

AOAR demands acceptance of fiscal consolidation for Romanian groups of companies, similarly to multinationals

The Association of Romanian Business People (AOAR) is demanding the acceptance of fiscal consolidation for Romanian groups of companies, the similar treatment which is applied to multinational companies.

The AOAR argues that this measure would support the organic development of Romanian groups of companies, still disadvantaged by the high costs of lending compared to the cost of loans for multinational companies.

“The AOAR has actively participated in the Tax Code debate, insisting on eliminating the negative discrimination of Romanian groups of companies, for which fiscal consolidation is not accepted, as it is accepted for multinational groups of companies,” the association’s representatives say in a Monday’s release for Agerpres.

The AOAR considers that it is “hard to understand and accept” the views expressed by the central bank and some representatives of the Fiscal Council, who say that a GDP’s annual growth by over 3pct would be a danger and a return to the situation in 2008.

On the other hand, the association’s representatives do not back the salary increase in the public sector, amid unclear legislation that generates “a useless bureaucracy which consumes without justification the limited financial resources of companies”.

The AOAR has proposed that Romania’s President, in the context of the meeting of representatives of parliamentary parties to review some provisions of the Fiscal Code, the real, professional and responsible negotiation of a Pact on Romania’s Economic Development until 2025 or 2030.

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