27 Mai 2010
Italian entrepreneurs balk at income-tax hike
The 20,000 Italian entrepreneurs in Romania said they have no plans on fleeing the country, but called on lawmakers to keep income tax at current level and to speed up refund on the VAT return, said the Italian ambassador at Bucharest, Mario Cospito.
“Many Italian entrepreneurs who invested in Romania have no intention on fleeing the country, but they need help to cope with the crisis. They want the income tax to remain at current level and the administrative decision-making process to be improved, locally and nationally”, said Mario Cospito, the Italian ambassador at Bucharest, as quoted by NewsIn.
Cospito added that the 20,000 Italian entrepreneurs in Romania want more transparency and certainty in the auctioning process and faster refund of the VAT.
“In a nutshell, less bureaucracy and more understanding of the entrepreneurs and businesses’ needs”, he added.
According to the ambassador, Italian companies in Romania fetch around 12% to the country GDP.
Cospito added that the 20,000 Italian entrepreneurs in Romania want more transparency and certainty in the auctioning process and faster refund of the VAT.
“In a nutshell, less bureaucracy and more understanding of the entrepreneurs and businesses’ needs”, he added.
According to the ambassador, Italian companies in Romania fetch around 12% to the country GDP.