EC urges Romania to reduce the number of taxes

The European Commission (EC) identified as many as 113 taxes levied in Romania – the largest number in the European Union (EU), and urged the country for a significant cut to fight red tape and support the business environment, said EC commissioner for multilingualism Leonard Orban in Bucharest, NewsIn informs.
According to Orban, there are taxes which cost more to collect than the actual amount cashed in by the state.

The commissioner refused to speculate on the potential conditions imposed by the International Monetary Fund (IMF) and by the EU for a loan, but suggested emphasis will be placed on consolidating budgetary policies and setting up a consolidated fiscal framework on the medium and long-term.

Moreover, the EC will revise in a short while its estimates for economic growth and in Romania's case this could slip below the 1.8 percent advance initially anticipated.

“The EC has repeatedly pointed to potential budgetary risks,” Orban said.

Asked why Romania is among the few states outside the Eurozone to apply for help from the EU, Orban suggested other states could follow its lead.

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