Ovidiu Sorin Bota, Vice President, Finance&Budget Committee, Romanian Senate

- proposes that the VAT payment should be made upon receipt of invoices (at a maximum of 90-120 days from the billing date)
- proposes the introduction of a time-0 in the Romanian economy
- proposes the creation of a type  guarantee fund mechanism for companies. This fund would pay debts to banks and take over the practical state debt and so it would create a financial mechanism that should eliminate the achievement of those debts in the economy, companies would unlock the ensuring financial flow
- clearing mechanism - rather than raise taxes, better to create an friendly economic environment  to the taxpayer -state relationship : equivalent to what it would mean to reduce VAT or flat by the simple fact that should lead to confirmation of voluntary tax
- source for a company to conduct the business money and bank loans: banks should be more involved in corporate finance, but also in debt financing;
- one of the most important reasons why banks do not lend in Romania aims to faulty application of insolvency law in Romania

Marius Stanescu, RIFF Holding, Romania:

- Romanian-tax model does not exist
- Romania is bound to stimulate business in the private sector
- proposes the social-impact management tax measures
- Romania-tax law must be based on principles such as modernization and efficiency
- Tax legislation should be simplified for the predictability of at least one financial year
- fund legislation should be structured and universally applicable
- exceptions from tax laws should be abolished
- tax administration lacks the element that very few people realize: marketing tax. ANAF has no marketing budget for fiscal management
- proposes to treat taxpayers equity

The objectives of tax reform:

-reducing the number of fiscal and parafiscal taxes
-fixing and expanding the tax base
-basis taxpayer must be measurable, observable
-reducing tax evasion
-base-unification for implementing social contributions
-improve collection rates
-adoption of simplified tax measures


10 specific principles (laws immutable):

-before the tax law is good or bad,it must be equal for all
-taxes are not a social obligation, but solidarity angajamenmt
-tax strategies are interdependent with budget policies, but their best left objective is business stimulation
-tax law is moral promoter of capitalism
-imposition of taxes is an exercise of rationality recognized by contributors tax law contains no exceptions and no privileges
-tax law will not discriminate against taxpayers in relation to the State
-no standard application will exceed the tax law
-the tax-control will be fisrt indicative and corrective, and ultimately corective and punitive
-error in the wording of the law is to review national security


Valentina Sgarbura, Vice President of APEC:

Simplification measurements of micro-entities :
-the role of micro-entities is of an economic engine, a social positive role, the decrease in the number of unemployed and social assistans
-number of statements burden on micro-entities
-if by December a micro-entitie does not make statements it risking fines between 20,000 and 75,000 lei
-redundant statements: ex: 094 on turnover
-if they would give up a number of these statements ANAFīs costs would drop considerably with processing, which is much higher compared with the amounts presented to the state budget
-in Romania the time given for the payment of taxes by the state: 220 hours


Proposals to simplify:

-eliminating redundant statements: 094, 392A and 392B
-elimination annexes to the annual financial statements
-112-quarterly statement for companies with turnover of up to 35,000 euros
-reducing fines for non-application of statements and applying warning
-for suspended companies  or derogation declarative regim, eliminating the deposit of all statements and of all annual financial statements
-changing the vector tax online
-simplifying the wage tax calculation
- reducing the number social contributions from D112 from 10 to 3: Tax on wages, contributions due from the employee, the employer contribution due