Bucharest, 25 February 2015
The American Chamber of Commerce in Romania (AmCham Romania) and the Foreign Investors Council (FIC) welcome the launch of the public consultation on the draft Fiscal Code and Fiscal Procedures Code, legislative frameworks of major importance for the economy and for Romanias attractiveness and competitiveness, after numerous amendments of the Codes during the past 12 years.
Ionut Simion, Chair of the AmCham Romania Taxation Committee considers that the "business community we represent appreciates the genuine dialogue with the responsible authorities in the case of these particular projects, reflected in the large number of technical proposals included in the drafts published for public consultation purposes. However, many technical proposals of high importance are not included, therefore we will continue to recommend them during the public consultations period. The importance of this project is also related to the fact that once adopted, the new Codes will be in force - hopefully unaltered- for a long period of time, thus offering the transparency, stability and the predictability needed by the business environment
In line with the previously expressed positions, we emphasize that the fiscal policy measures that stimulate economic activity and reduce fiscal and administrative burdens are welcome, the essential condition being their short and long term sustainability.
Daniel Anghel, President of FIC Taxation Committee, believes that "it is absolutely necessary to reach parliamentary consensus regarding the technical content of the two Codes, in order to ensure their applicability and long-term stability. We appreciate the Government's intention to promote tax legislation in support of the business environment, but we are aware, at the same time, that there is the risk that significant changes might occur until their publication. Therefore, we insist on the existence of a consensus regarding technical aspects, which has a major impact on the economic activity
Along with the republishing of the Fiscal Code and the Fiscal Procedural Code, coupled with the successful implementation of the tax administration reform project, we see possible accomplishing the major objective of modernizing tax legislation with the aim to support an increasingly competitive economic environment.
THE AMERICAN CHAMBER OF COMMERCE IN ROMANIA (AMCHAM ROMANIA)
is the first choice for advocacy and business growth in Romania. The organization was based in 1993 and it now represents 400 members - U.S., international and local companies, with total investments worth over USD 20 billion and generating approximately 200,000 jobs.
AmCham Romania is firmly committed to facilitating an open dialogue between the business community and the central authorities, promoting transparent solutions and priorities for making Romania a better home for businesses and increasing the countrys economic competitiveness in the region and at European level. AmCham Romania is an accredited member of the U.S. Chamber of Commerce and part of the European network - AmChams in Europe.
THE FOREIGN INVESTORS COUNCIL (FIC) is an association of the leading investors in Romania. The FIC was established in 1997 when it officially began its activity with 25 companies as members. Today, the FIC has 112 member companies whose cumulated investments in Romania exceed EUR 35 billion representing approximately two thirds of the total foreign direct investment made since 1990.
The FIC includes multinational companies providing the Romanian economy with a variety of goods and services and creating almost 200,000 direct and indirect jobs.
In Top 10 largest companies by turnover, eight companies are FIC members, and 35 member companies are included in Top 100 - as per the report "Major Companies in Romania" published in 2013, by IBP.
Foreign Investors Council (FIC) - www.fic.ro