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August 2, 2021

Coalitia dissatisfied with new Fiscal Code

According to a communiqué received by the editorial office, the Coalition for the Development of Romania (Coalitia) expresses its dissatisfaction with the changes brought to the Fiscal Code as a result of the Romanian President’s re-examination request.
The communiqué reads: “Against the backdrop in which Romania’s economy is just recovering after the crisis that caused the insolvency of over 158,000 Romanian- and foreign-capital companies, the Coalition for the Development of Romania (CDR) considers that the lowering of VAT is an insufficient measure for Romania’s sustainable economic development and the fiscal policy should be channelled toward accelerating the formation of local capital, encouraging investment in productive assets and raising the competitiveness of companies active in Romania.
In this sense, CDR considers necessary and urgent the implementation of the following fiscal policy measures: (1) fiscal consolidation for profit tax and VAT owed by groups of companies fiscally registered in Romania; (2) the abrogation of the special building tax; (3) capping health insurance contributions to a maximum of 3 gross average salaries for the basic package of medical services; (4) the abrogation of the over-excise on fuel in order to lower the share held by transport costs in the value of merchandise and services and (5) lowering the tax on dividends from 16 to 5 per cent.”
We remind our readers that this communiqué comes only a day after the meeting that CDR’s representatives had with Prime Minister Victor Ponta.
Sources emphasize that CDR’s representatives are disappointed with the fact that when it comes to the changes brought by the new Fiscal Code that Parliament approved at the President’s request the Coalition was not consulted and its expertise was not used as it had been during the period in which the Government drafted the documents concerning Romania’s new fiscal programme.
The Coalition is a private, apolitical initiative built as an agreement of collaboration through the collective participation of its members. The members of the Coalition voluntarily contribute the resources and expertise needed to formulate joint points of view on public policies that have an impact on the business environment.

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