GEO 114 caused by lack of budget revenues, says Deloitte

The lack of revenues to the state budget is the main reason why Government Emergency Ordinance 114 on fiscal-budgetary measures was issued, Dan Badin, partner for Deloitte Tax and Legal Services, said in a press conference.

“GEO 114 already has negative effects on the economy and affects many industries. We wanted to understand, first of all, why this GEO was given? Now, more than a month later, when we see that the budget has not been published, it seems that a key element for which this document was issued is perhaps the lack of budget revenue,” said Badin.

The Deloitte representative added that the “greed tax” wording, originally mentioned in GEO 114, could be aimed at “identifying a class enemy, which is represented by companies.”