Over half of investors believe the evolution of the tax system was negative this year, Deloitte shows

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In 2017, the percentage of those who consider that the tax system had a positive evolution has halved.

Thus, on the occasion of the annual conference Taxnology, Deloitte Romania conducted a survey among the participants representing of some of the largest investors in Romania, which reveals that 52 percent believe that the evolution of the tax system was negative this year compared to 22 percent in 2015.

Moreover, 15 percent of the interviewees said that the tax system had a positive evolution with major changes compared to 32 percent in 2015. At the same time, 22 percent of them believe that in 2017 the tax system had a positive evolution with minor changes compared to 43% in 2015.

”We note that the percentage of those who believe that the legal changes lead to fiscal relaxation or fiscal predictability has diminished. In Deloitte’s opinion, the deterioration in the perception of the business environment is not necessarily determined by legal changes or tax increases, but by the way in which discussions about tax policies have taken place lately. We are concerned about the increase of mistrust, as it will ultimately affect the business decisions regarding opening new businesses, expanding or hiring and implicitly affecting the Romanian economic growth that brings wealth for companies and their employees, therefore for the country as a whole,” said Dan Badin, Partner-in-Charge Tax and Legal Services Deloitte Romania.

As regards the impact of the legal changes on their business, 46 percent say that the legal changes have a major impact in 2017 with negative effects on their business versus 30 percent two years ago

19 percent consider in 2017 that the legal changes have a major impact with positive influences on their business compared to 30 percent two years ago.

62 percent believe in 2017 that the legal changes have simplified the tax calculation and tax compliance compared to 23 percent in 2015. 2 percent say that the legal changes have led to fiscal relaxation in 2017 compared to 28 percent in 2015.

Not least, 3 percent believe that the legal changes have reached the objective of predictability of the fiscal system in 2017 compared to 13 percent in 2015.

 

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