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AmCham Romania Asks Authorities To Reconsider VAT Hike

The American Chamber of Commerce in Romania, or AmCham, recommends that local authorities reconsider their decision to hike the value added tax, according to a press release issued Wednesday.

AmCham notes a lack of coordination and alignment among the decision makers, as well as delays in the decision process due to lack of political commitment, according to AmCham president Sorin Mindrutescu.

The AmCham official added the local authorities' approach to the situation lowers the confidence of present and potential investors, with bad results on an economic and social level.

AmCham recommends that the flat tax be maintained, as well as the VAT. Alternately, the VAT hike should only be maintained until the end of 2010. Another measure proposed by AmCham is the reduction and strict control of public procurement, through specialized structures.Furthermore, the state should improve its revenue collection by restructuring the system and implementing integrated computerized solutions, as well as by upgrading the Fiscal Code.

AmCham Romania was set up 17 years ago and its 300 members include U.S., international and local companies, the investment of which in Romania totals 10 billion dollars; such investment has created 150,000 jobs.

Sursa: http://www.actmedia.eu

Tags: amcham romania

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