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.
The Romanian Senate adopted a draft law that automatically extends provisional protection orders and increases penalties for violating them on Monday, October 27. A total of 120 votes were recorded in favor. The bill extends provisional protection until the resolution in the first instance of the request for it, amending Law no. 217/2003 on preventing […]
BraveX Aero, a Romanian manufacturer of fixed-wing, long-range drones, announced on Tuesday, October 28, the signing of a strategic partnership with Germany’s Uniq Things UG, a technology company specializing in autonomous coordination and software for drone swarms. The technology allows for the simultaneous deployment of multiple drones, contributing to increased information and response capabilities for […]
The medieval citadel of Sighişoara, in central Romania, will host the first edition of the “Halloween in the Citadel” festival. The event will take place this weekend, between October 31 and November 2. The entire city center will be decorated in the spirit of Halloween with the ocassion. The towers and historic houses inside the […]
Romania ranks among the European Union countries with the highest share of people living in severely inadequate housing, according to new data compiled by Monitorul Social, a project of the Friedrich-Ebert-Stiftung Romania, based on Eurostat figures for 2023–2024. The report showed that 9.6% of Romania’s population lives in conditions classified as “severe housing deprivation,” meaning...
Haier Tech Europe is selling its manufacturing plant near Ploiești, in Romania’s Prahova county, as part of a broader restructuring of its European production network. The company has appointed real estate consultancy Colliers as the exclusive consultant for the transaction. The decision follows Haier’s recent strategic review, which led to the discontinuation of operations at […]
Romanian agricultural company Agroserv Măriuța, owner of the Lăptăria cu Caimac brand, announced the launch of a private placement for a new corporate bond issue with a value of up to EUR 3 million on Tuesday, October 28. Denominated in euros, the bonds will have a nominal value of EUR 100 each, a fixed annual […]
