Romania should avoid measures which will cancel the country's competitive advantages such as highly skilled technical personnel, who, in the context of certain fiscal incentives, have drawn major foreign investments in our country, according to the American Chamber of Commerce in Romania (AmCham Romania). The country should also focus on improving tax collections and taxing the gray economy, while reducing public spending. “Other high priority measures would be reducing the receivables for companies, through VAT reimbursement or paying old debts to the pharmaceutical industry and to the health care system in general” said Ionuţ Simion, the chairman of AmCham's Tax Committee (in picture).

AmCham appreciates the authorities’ decision not to increase the fiscal burden for businesses, offering the private sector the time and space to recover after a difficult economic cycle. Beyond the pressure on the private sector, potential tax increases will send a strong negative signal to investors, and will result in a significant decrease of Romania’s economic attractiveness and competitiveness, at a regional and European level, according to AmCham representatives.

In AmCham’s view, the modernization of the fiscal legislation and flexible labor relations are among the top priority measures that have to be implemented in Romania, in view of economic recovery and ensuring a friendly investment climate.