Romania ranks 49th of 190 economies in the global Paying Taxes ranking, established by PwC (Price WaterHouseCoopers), the country being among Central and Eastern Europe’s performers in terms of tax compliance legislation, with 163 hours per year, whereas at a global level, an average of 237 hours is required, according to a press release issued by PwC. As opposed to the previous year, Romania has lost 7 positions. In the PwC Paying Taxes Report, which measures the ease with which a medium company can pay its taxes and duties, Romania is placed before other countries from Central and Eastern Europe regarding the ease with which companies can pay their taxes, ahead of Bulgaria (92th), Hungary (86) and Poland (69), but is still behind the regional performers, such as the Baltic countries (Latvia – 13, Estonia – 14, Lithuania – 18). Regarding the number of taxes and duties payments, a medium sized company needs to make 14 payments per year, similar to last year’s situation. The Baltic states, together with Poland, are some of the most efficient from this point of view. The global average is 24 – similar to last year. According to PwC, in this year’s ranking, the total tax rate in Romania is over 40 percent, among the lowest at regional level, in line with the global average of 40.4 percent. “Romania’s position in the first third of the global ranking is a positive result, if we look at it individually. If we fully analyze the economic climate in which Romania is evolving, it becomes very clear that the tax authorities need to continue their investments in the fiscal infrastructure and technology. The higher the level of computerization and technology of the tax authority, the better the position in the ranking. And this can be very clearly seen in the Baltic countries, which occupy leading positions in the ranking. The new financial reporting technologies can streamline the internal processes of tax authorities, including control and verification mechanisms, and at the same time, they will be useful for the taxpayers as well,” Daniel Anghel, the leader of the Fiscal and Legal Consultation Department with PwC Romania said.
The post PwC: Romania ranks 49th of 190 economies in ease of paying taxes ranking appeared first on Nine O' Clock.
On Monday, December 23, Romanian police brought Nica Robert Florin back to the country. The man convicted of possession of high-risk drugs, bodily harm, and driving under the influence of alcohol, is listed among Romania’s Most Wanted category and was also wanted internationally. Romanian authorities revealed at the beginning of October that they had indications […]
An investigation by the famous British newspaper Financial Times revealed that the campaign of former Romanian presidential candidate Călin Georgescu was supported by a Russian network also used during the pandemic in France and Germany to instill fear of vaccines. The newspaper’s investigation began in continuation of those by Bulgarian and Romanian journalists at BG...
Bucharest’s District 3 City Hall will once again organize a special New Year’s Eve event in Titan Park, with a program of live concerts, multimedia shows, and even a simulation of the Northern Lights. The event, set to begin at 8:00 PM on December 31, will focus on the theme of infinity. “If you missed […]
Traffic on Lot 1 of the A7 Ploiești-Buzău highway, stretching 21 kilometers in southern Romania, was officially opened on Monday, December 23. With this opening, 102 kilometers of the total 320 kilometers of the highway are now usable. The Moldova Highway, as it has been called, is meant to connect Romania's economically underdeveloped eastern regions to […]
The Dutch technology investor Prosus NV, also the majority shareholder of Romania’s largest online retailer eMAG, is set to buy the online travel agency Despegar.com Corp, focused on Latin America, for approximately USD 1.7 billion. The purchase consideration will be funded from existing cash resources, the company said. Founded in Argentina in 1999, Despegar is one […]
The new Forestry Code, which passed the Parliament vote on December 17 and was signed into law by president Klaus Iohannis on December 20, includes provisions that protect all forests in Ilfov, the county surrounding Bucharest, making them the cornerstone of the future green belt around the capital city. Moreover, it legislates green belts nationwide, […]
