Romania Plans More Tax Changes to Help Budget, Boost Investments

Romania plans a new set of tax changes for companies to boost budget revenue, reduce tax fraud and stimulate investments to avoid a recession, Finance Minister Alexandru Nazare says during press conference in Bucharest on Wednesday.

• The government seeks to replace a turnover tax on large companies, which didn’t yield the expected results, with a new tax on affiliates that will allow deductions of some of invested funds
  • “We want to change the paradigm from a turnover tax on multinationals that prevents growth and investments to a new tax that targets specifically that area where a company exports its profit. ...