Following the discussions with the Prime-Minister of Romania, Mr. Ludovic Orban, on the priorities of the business sector, the working group on fiscal policy within Coalitia pentru Dezvolatarea României (CDR) met Friday, January 31st with the Minister of Public Finances, Mr. Florin Cîțu, to discuss the priorities in the fiscal area in more detail, to evaluate their alignment with those of the Ministry, and to discuss the way to achieve these.
The priorities of CDR in the fiscal area target the stability and predictability of fiscal policy measures, the digitalization of ANAF, keeping in place the flat tax rate, reintroducing the cap on social contributions, encouraging the research and development activities through implementation of fiscal incentives already covered by the legislation, and deductibility of expenses for the assignment of receivables.
The short-term priority is the approval of the draft bill amending the Fiscal Code to reflect measures long-debated, analyzed and agreed with the business sector over the past three years, which include: the introduction of fiscal consolidation, IFRS 16, but also approval of the draft bill amending the Fiscal Procedure Code which represents an important step towards balancing the relation between the taxpayers and the fiscal authorities. CDR stressed the importance of these changes and asked for the support of the Government for their speedy adoption by the Parliament, the bills being currently in the Budget, Finance and Banks Commission of the Chamber of Deputies.
“We were happy to see Minister’s Cîțu availability for dialogue and his interest to identify sustainable long-term solutions for Romania. At the same time, we salute the fact that one of the priorities of the business sector, namely replacing the March 15th deadline to submit the Single Statement with May 25th was already applied for the 2020 and we hope that this will become the new deadline set by the Fiscal Code”, said Mr. Daniel Anghel, the coordinator of the CDR working group on fiscal policy.
Both the Ministry of Public Finances and the representatives of the CDR working group on fiscal policy found the continuation of the dialogue useful and recognized the importance of impact studies as a basis for viable measures, for Romania’s benefit.