The simplification of fiscal regulations and of the regulations on calculating taxes would have the most significant impact over the improvement of the tax system in Romania, according to 60% of the entrepreneurs who participated in EY survey “Entrepreneurs Speak Out – Romanian Entrepreneurship Barometer “, up from 48% last year.
Only 14% of the entrepreneurs want reduced taxation of capital gains, compared with 26% last year, while 11% want the setup of a governmental agency to assist start-ups in observing fiscal requirements. At the same time, 6% of entrepreneurs want lower taxes for individuals’ incomes.
According to World Bank’s Doing Business 2015 Report, a Romanian start-up needs 159 hours a year to navigate through the fiscal system, triggering a decrease in its productivity.
Mihaela Matei, Special Projects & Digital Officer, the coordinator of Romanian Entrepreneurship Barometer, says that online resources would be among the cheapest solutions for the information and education of Romanian entrepreneurs on legislative issues.