Most Romanian companies (94%) expect to pay more taxes in 2024, Alex Milcev, head of EY Romania's Fiscal and Legal Assistance department, said Thursday, citing a survey conducted by the company."The first question is whether you expect your company to pay more taxes in 2024. It seems, of course, a question to which everyone should answer 'Yes'. Pretty much everyone answered, that is 94%. But the interesting part is the next question, namely the reasons for these tax increases. And the answers are very interesting. 68% blame the legislation. This is also correct because that is how this legislation was designed, so that we all pay more to the state budget to a greater or lesser extent. But the next criterion, with 36%, is the 'business growth' criterion. That is, the increase in taxes is due to the fact that the business is doing well," said Alex Milcev, at the EY Annual Tax Conference 2024.As a reason for increasing taxes 32% of participants mention the political context and the pre-election period, 32% inflation, which leads to a nominal increase in revenues, 18% the need to align with newly introduced international requirements, and 32% all the reasons listed above.When asked "How do you rate the government's measures to increase taxes in 2023 and 2024?", 37% of participants answered that these were unavoidable and 30% avoidable.When asked "What alternatives do you think would be available to avoid tax increases?", most respondents, 70%, mentioned combating tax evasion.Participants were also asked about increasing the efficiency of the tax system in Romania. Most, 76%, pointed to the digitisation of the National Agency for Tax Administration (ANAF) and the improvement of the level of training of tax inspectors.Participants were also asked about the impact of the new minimum turnover tax (0.5%/1%/2%) on their business in 2024. 48% said it would have no impact, 31% a significant impact, 14% a very significant impact, and 7% an insignificant impact.
Exim Banca Romaneasca and Maschio Gaspardo Romania are carrying out a strategic partnership through which the Bank, in its capacity as Romania’s Export Credit Agency, supports the company’s exports, providing protection against various commercial and political risks associated with external markets. Maschio Gaspardo Romania, the largest local producer of agricultural machinery, with a production unit […]
Baritone Mihai Damian, a soloist of the Romanian National Opera in Cluj-Napoca, has won the Male Voice category’s first prize at this year’s edition of Operalia, the competition for young opera artists established by Plácido Domingo. He also won the competition’s Audience Award and the special award offered by the Ministry of Culture of Bulgaria, […]
Romanian apocalyptic sci-fi horror feature “We Put the World to Sleep” had its world premiere on October 18 at the Nightmares Film Festival, one of the most important horror and fantastic film festivals in the US. The film, a product of 9 years of work, won Best Midnight Feature and Best Supporting Performance. Next, it […]
Romanian president Nicușor Dan visited a team of researchers and students from ‘Grigore T. Popa’ University of Medicine and Pharmacy of Iași, the creators of the smallest artificial heart with applications for both adults and children, on Saturday, October 25. In 2023, UMF “Grigore Popa” announced that the Mavis Artificial Heart team from the higher […]
Brașov, the popular mountain city in central Romania, will no longer host a fireworks display on New Year’s Eve, the City Hall announced. The decision, the authorities say, aims to protect pets and wildlife from the stress and harm caused by loud explosions, as well as the environment from chemical pollution. Instead of fireworks, the […]
Romania’s Social Democratic Party (PSD), part of the governing centrist coalition, is backing District 4 mayor Daniel Băluță for the general mayor of Bucharest. Elections will take place on December 7. Interim party leader Sorin Grindeanu first talked about the appointment following discussions with the PSD in Bucharest. “We had a meeting with colleagues from […]
