Multinational companies relocate to neighboring countries on heavy VAT refunding, PWC says

Many multinational companies in Romania have switched camp to Bulgaria and Hungary, countries where the VAT is refunded much faster, declared Daniel Anghel, partner of PricewaterhouseCoopers, cited by NewsIn.

He explained that the Romanian system is very bureaucratic and that crossing controls with the suppliers in the European data basis can block the VAT refunding by as much as a year.

“It can be done as in Germany or France, where the VAT was increased by 3 percent to allow the labor force taxes to go down,” declared Cristian Parvan, general secretary with the Romanian Businessmen Association (AOAR). That way, prices do not grow, the population keeps its purchasing power, companies can keep their profit and the internal demand is stimulated by fewer imports.

Robert Hofnar, head of the revenue division with the National Agency for Fiscal Administration ANAF reminded that the agency is preparing a project to modify the current VAT refunding procedure. It will allow exporters to cash in their money before being controlled by the ANAF and will reduce the export margin from 1 million euros to 1 million lei.

Te-ar putea interesa si:

Mai multe articole din sectiunea English »