Representatives of the American Chamber of Commerce in Romania, or AmCham, and of the Foreign Investors Council (FIC) have called on the Finance Ministry to keep the current 16% flat tax for both companies and private individuals, reduce social security contributions, extend tax incentives in the IT&C sector and reduce taxes on buildings. They also want a correlated tax mechanism regarding the tax on profit, the tax on income and social security contributions.
Businesspeople also want Romania’s tax laws to be updated, simplified and correlated to reduce red tape and eliminate inconsistencies.
They said it is highly necessary to consolidate and extend tax incentives for activities in the IT&C sector, which create jobs and keep IT specialists in Romania, as well as for research and development (R&D) activities. They also said they support the setting up of firms by young entrepreneurs, the granting of state support schemes and other similar measures in accordance with the economic growth strategy, as well as national priorities targeting competitiveness.