Romania could be rid of its status as a country having one of the most burdensome tax systems in the world (over 100 taxes), but only if the law establishing that one needs to submit a single statement per year for social contributions and pay them in one place is approved by the end of 2010.
"The current version is as yet a draft one. An agreement has not been reached. The law should be approved by the end of the year, so it can be enforced as of January 1st 2011. After coming into force, there should be one law regulating all social contributions and a single statement to be submitted in one place. A test was also set to start for middle taxpayers," Dragoş Doroş, director in the Finance Ministry, told ZF. He mentioned this legislative change would be welcome, and that it is awaited both by companies, and by the Romanian fiscal authorities, because it would simplify work and cut back on red tape.
Romania could be rid of its status as a country having one of the most burdensome tax systems in the world (over 100 taxes), but only if the law establishing that one needs to submit a single statement per year for social contributions and pay them in one place is approved by the end of 2010.
"The current version is as yet a draft one. An agreement has not been reached. The law should be approved by the end of the year, so it can be enforced as of January 1st 2011. After coming into force, there should be one law regulating all social contributions and a single statement to be submitted in one place. A test was also set to start for middle taxpayers," Dragoş Doroş, director in the Finance Ministry, told ZF. He mentioned this legislative change would be welcome, and that it is awaited both by companies, and by the Romanian fiscal authorities, because it would simplify work and cut back on red tape.