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ABSL: The emergency ordinance regarding the Fiscal Code will have a negative impact on Romania's competitiveness

ABSL Romania examined the emergency ordinance draft to amend the law no. 227/2015 regarding the Fiscal Code and concluded that the implementation of these measures will have a negative impact on Romania’s international competitiveness, discouraging the foreign investments in the Business Sector- after a recorded 17 per cent fall in the first 8 months of 2017, as presented in a National Bank report.

2017-11-09 10:24:14

ABSL supports the Ministry of Public Finance intention to modernize the law frame and is putting its entire expertise regarding the Industry in the service of the local authorities in order to consult and support the State Institutions in finding the optimal solutions for all parties.

The Business Services Industry significantly contributes to Romania's economic growth, counting over 250 companies (120.000 employees) and representing approximatively two per cent of Romania's GDP. The Business Services Industry predicts an annual increase of 15 per cent - 20 per cent in the next years, based on political and legislation stability - due to a study developed by KPMG for ABSL.

ABSL company members consider that the predictability of the business environment is the key-factor of economic growth, and the sudden modification of the fiscal program without consulting the business environment and presenting elaborate impact studies raises concerns over the Romanian economy, with immediate effects over the industry development and employment rate.



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