The Concordia Employers’ Confederation reiterated its concern about the proposed tax increases, which will affect the competitiveness of Romanian companies and reduce the purchasing power of citizens.
“We draw attention to the fact that budgetary balance should be pursued primarily through efficiency and more efficient fiscal administration, and less through measures that would tighten the fiscal burden on the business environment,” it is stated in a position statement on the topic of rebalancing public finances, Cursdeguvernare.ro reported.
“The strong increase in VAT for HoReCa, the hospitality industry, and real estate transactions (from 9% to 19%) could create a domino effect, with a direct and indirect impact on both companies and consumers,” Concordia’s press release reads.
Romania must adopt a large-scale fiscal package this year aimed at reducing the budget deficit from the record level of 9.3% of GDP in 2024.
iulian@romania-insider.com
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