AmCham: Romania has huge potential, not fully utilized

Romania is tax-attractive and has huge potential, not fully utilized - says Ionuţ Simion, President of the American Chamber of Commerce in Romania.

The nearly 500 AmCham members were subjected to a study this summer which revealed that the business environment perceived the single tax system positively.

However, there are dissatisfactions with the tax legislation, which constitutes a barrier to further investments and affects the general perception about the business environment in Romania. Low attractiveness of the fiscal incentives and weak digitalization of the fiscal system are major shortcomings, states the study presented by Ionuţ Simion, President of AmCham.

Ionuţ Simion: "The main shortcoming that does not stimulate investments in Romania is the lack of digitization of the National Agency for Fiscal Administration (ANAF). In reference to the future, we have asked two questions: what are the main legislative measures to stimulate development and attracting of new investments? And the overwhelming response, 85 %, was: we want to have predictability on the fiscal measures that are being taken, and on the main measures to be adopted in the interaction with ANAF; digitization of the tax administration is a measure to facilitate both taxpayer's task and collecting more taxes on the state budget".

Source:RRA.Translated by Miruna Matei