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Romania's tax collection as GDP share lowest in EU in 2009

Tax collection in Romania had the lowest rate in the Gross Domestic Product (GDP) from the European Union in 2009, namely only 32.4 percent by 16.6 percent less than the European average, reveals the most recent Report of the Fiscal Council, released on Thursday.

'Romania copes with big issues regarding tax and fees collection. We have an extremely low efficiency of the process of collecting social contributions. Romania ranks tenth namely the last place among the region countries, members of the European Union,' Fiscal Council Chairman Ionut Dumitru said on unveiling the report.

The level of the tax revenues as percentage of the GDP (taxes and social contributions) recorded in Romania stood at 27.1 percent in 2009, by 12 percent lower than the value of the average registered in the EU 27 member states, amounting to 38.8 percent.

The Fiscal Council Report reveals also that 41 percent out of the all-in tax revenues stood for indirect taxes, while 35 percent accounted for revenues collected from social contributions. Among the Central and Eastern European countries, Romania ranked third in 2009, having a collection efficiency level of 81 percent and an implicit rate of 13 percent.

Regarding the collection of the Value Added Tax (VAT), the above-quoted report shows that the implicit rate surged by up to 12.2 percent in 2010, given the increase of the VAT quota by 5 percent. The taxation efficiency level regarding the VAT runs to 58 percent, lower than in Estonia (83 percent) or Slovenia (74 percent). The Fiscal Council on Thursday released the Annual Report over the Fiscal-Budgetary Outlook in the Long Term and Romania's economic situation in 2010 as well.

Sursa: http://www.actmedia.eu

Tags: percent fiscal report collection

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