The turnover tax and the reduction of certain facilities with regard to the VAT payment could have an impact on inflation of 1 to 2 percentage points next year, stated on Monday Adrian Codirlasu, vice chairman of the Association CFA Romania."I am in favour of a single quota applicable to all and non-discriminatory. A facility applies, but it can apply for a limited time, that facility takes effect, then we reduce it, we take it away. Also in this sense of, let us say tax fairness, there is a study done last year by the Fiscal Council which even said that if we removed these facilities it would bring to the state budget somewhere around 2% of GDP additional revenue. We would not have had these problems this year if we had applied those measures proposed by that study. On the specific taxation that is happening now, basically additional taxes have been put on companies. So basically the government wants more money and is taking that money from the consumer, from the population through the companies. In the sense that a turnover tax is a VAT. VAT is a turnover tax. Also, a turnover tax is actually a VAT on steroids. In what sense? The bigger the supply chain, the more 1% is added at each point and the final price to the consumer is more than 1%. That's why I see an impact on inflation next year, maybe somewhere between 1 and 1.5, 2 percentage points, which will come both from this turnover tax and somehow from the reduction of certain facilities regarding the payment of VAT", said Adrian Codirla?u, at the 4th edition of the Roinvest event.Similarly, the vice chairman of the Association CFA Romania considered that it is possible to have such episodes of reduction of the fiscal facilities next year as well.‘Next year, according to my opinion we will have another episode of increase of taxes, as we will not get to reach the target, under 3% of GDP. In any case, we will not reach it next year, maybe at the pace we have today, somewhere in 2025 – 2026’ explained Adrian Codirlasu, vice-chairman of the Association CFA Romania.
Dedeman, Romania’s largest home improvement and construction retailer, announced on Monday, September 22, that it will expand into the Republic of Moldova, marking its first entry into the neighboring market. The company said its presence across the border will deepen economic links between the two countries and confirm Moldova’s growing attractiveness for major foreign investors. […]
Romania has collected EUR 5.7 million in insurance compensation after four cultural treasures, namely the famed Dacian Helmet of Coțofenești and three gold bracelets, were stolen earlier this year from the Drents Museum in the Netherlands, the Ministry of Culture
Former US first lady Michelle Obama, the wife of Barack Obama, was in Bucharest on Thursday, September 18, to serve as the main guest at the second edition of the Impact Bucharest series of conferences. The former first lady spent about an hour in front of a large audience, speaking about her childhood in a […]
Czech president Petr Pavel spent a few days in Romania at the beginning of September while on holiday. According to statement by the Romanian Embassy in Prague, the Czech leader traveled mountain routes by motorcycle and chose modest accommodations. Pavel tried to see as much of what Romania had to offer. He planned his routes, […]
Romania is taking tangible action toward its green transition through sustainable infrastructure projects, public‑private partnerships and green bonds. Experts, government officials and business leaders have gathered today at the CES Bucharest ESG Conference, to present progress and identify solutions through which the public and private sectors can collaborate to build a sustainable and competitive economy. […]
Prime minister Ilie Bolojan announced that he will visit Brussels next week to talk to three European commissioners about deficits, defense, and EU financing. The first meeting will be with the commissioner for economy, Valdis Dombrovskis, as Romania “must adjust the issues related to deficits to be a trustworthy country, so as not to continue […]
