Top 6 solutions to upgrade tax collection system

Paula Alexandrescu, 24 Jul 2009

Romanian version

Representatives of the audit, advisory and consultancy firm Nexia International have proposed six fiscal anti-crisis solutions meant to rejuvenate economy and stimulate tax collection system.

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Tax on luxury items

The introduction of a tax on luxury goods would bring a substantial contribution to increasing state revenues that Romania pines for in these recessionary times.

“In Romania, luxury items are not subject to withholding tax. First, there must be identified all goods described as high-grade or non-essential, to make that correlation between personal income, and the possession of luxury goods. The latter is not subject to any tax, which causes frustration to any normal citizen. We are familiar with similar cases”, said Luminita Ristea, managing partner at Nexia International.
It is the state’s responsibility to secure an equitable fiscal treatment to its citizens, whom it failed to accomplish so far, Ristea said.

Luxury tax should be applied with reference to income tax or wealth tax, she continued.

“It would be normal to see higher taxes on cars whose price exceed 30,000 euros and luxury properties, such as 16-room houses. The state should make a difference between a tax on a Tico and one on a Maserati or Lamborghini”, said Ristea.

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Top 6 solutions to upgrade tax collection system

Tax on luxury items

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