Jeffrey Franks: VAT and other tax reduction must wait five-ten years
The reduction of VAT and other taxes can only happen in the long term, once Romanian improves the management and collection of taxes through the fiscal framework, said Jeffrey Franks, International Monetary Fund mission chief to Romania. The official thinks that such a reduction will be possible in Romania within five to ten years’ time June 2011 - From the Print Edition
For 2012, Franks argues that the budget deficit must drop below 3 percent of Gross Domestic Product (GDP) which would not allow a reduction in taxes. “There is no space for this in 2012, we have to be realistic about this. The IMF advises the Romanian authorities to maintain as much as possible economic stability in 2011 and 2012,” said Franks. The official added that Romania needs a simpler and more realistic tax collecting system which can only be achieved by uncovering the black market.
|
|
|
 | |
|
|
| Daily Info |
|
Smart city is not a fad, it's a necessity In June 2018, the ranking of the most "smart" cities in the world was published. In other words, the most advanced cities in terms of human capital, social cohesion, the econo... |
|
Ondrej Safar, CEZ Group: "Romania can become a hub for international smart solutions providers" "We are already in the digital age, so the upward trend of implementing smart solutions is inevitable in all areas," he tells The Diplomat-Bucharest. "Especially in terms of u... |
|
Telekom Romania, a strong supporter of Smart City development in Romania Just like many other countries in the world Romania is now facing an unprecedented growth of the urban population, which can be both beneficial and detrimental for the society... |
|
In the industrial era, the fight was for finite material resources. Not anymore Now organizations fight and develop themselves for and around their talent.
In a nutshell, getting ahead in today's business world is all about attracting and inspiring an e... |
|
Richard Sareczky, Mol Limo: "We look at expansion locations across CEE including Romania" Consumer mobility behaviour is changing, leading to up to one out of ten cars sold in 2030 potentially being a shared vehicle and the subsequent rise of a market for fit-for-p... |
|
|
|
|
|
|
|
| |
|
|
advertising
advertising
advertising
|
| More on News |
| President Iohannis urges Romanians to be more united, stay involved in modernizing Romania  Romania's President Klaus Iohannis urged Romanians in France to be more united and stay involved as much as they are now in helping modernise Romania.
|
| EBRD cuts economic growth forecast for Romania  Romania's economy will grow by 4.2 per cent this year and by 3.6 per cent in 2019, according to the most recent forecast released by the European Bank for Reconstruction an...
|
| Dacia receives 115.8 million RON in state aid from the Finance Ministry  The Romanian Finance Ministry has signed five more grant agreements under the state aid scheme, and among the beneficiaries are Automobile Dacia, with RON 115.8 million.
|
| OTP Bank Romania signs investment funds distribution deal with Eurobank Fund Management Luxembourg  OTP Bank Romania signed a partnership with Eurobank Fund Management Company (Luxembourg) for the distribution of investment funds in Romania. Thus, from December 1st, OTP B...
|
| Fondul Proprietatea expresses disappointment over Engie listing rejection  Fondul Proprietatea is disappointed with the decision taken by the majority shareholder of Engie SA, Romania Gas Holding B.V., to oppose the listing of the company, accordi...
|
| Europe must become a producer of new technologies, not just a consumer of technologies, says EC  Europe must become a producer of new technologies, not just a consumer of technologies, said Gerard de Graaf, Director for the Digital Single Market in Directorate-General ...
|
| FDI in Romania rises 10 per cent after ten months in 2018  Non-residents' direct investment in Romania (net FDI) totaled 4.56 billion Euro in January-October 2018, around 10 per cent more compared to the same period of 2017, Romani...
|
|
