Deloitte Tax & Legal Conference
Leading the way forward
Bucharest, 7 October 2014 – During its annual Tax & Legal Conference Leading the Way Forward which took place today, Deloitte has held discussions with representatives of the business community on trends in the technological and business environment as well as on the changes that we expect in the tax legislation and the organization of the Fiscal Administration Agency (ANAF).
“Currently there are over 300 different taxes companies have to pay and Romania is lagging far behind the EU average in this respect,” said Dan Badin, Tax & Legal Partner-in-Charge at Deloitte Romania. “The country has made significant progress in many ways and it needs to adjust its tax model to the realities of today in which technology has a strong impact upon our lives, in making things easier and faster. The business community has high expectations from the potential legislative changes and from the modernization of ANAF: first of all they would like to see a stable and predictable tax system, but they also expect more clarity in the practical application of the tax law, a lower compliance burden and a fair treatment from the tax authorities. “
Badin also mentioned that the expected ‘re-writing’ of the Fiscal Code includes many positive aspects, but its approval by the Parliament before the end of this year has less chances with every passing week. If this happens, the Government may decide on enacting some of the changes starting with 2015 through an Emergency Ordinance.
Speaking on the international trends in tax, Pieter Wessel, Partner Deloitte Romania said: “One of the main international trends in tax is the action by the OECD against tax base erosion and profits shifting, the so-called BEPS. This will involve an increased emphasis on the reality and economic purpose of transactions and levying more tax in the country where the income is obtained.”
Dan Bulucea, CEO Google Romania, also gave a presentation during the event focusing on how technology may be used to make a difference in people’s lives.
After setting up the framework for discussions during the plenary session, Deloitte Tax & Legal consultants went deeper into the heart of the matter though a series of topical workshops. The conference gathered around 100 participants representing top companies present on the market.
Our tax and legal practice is highly recognized by reputable international publications. Only this year Deloitte has won the Central & Eastern Europe Tax Firm of the Year Award from the prestigious international publication International Tax Review. With more than 90 professionals, our tax practice is organized into five service lines – Corporate and International Tax, Indirect Tax – VAT, Customs & Excise Group, Global Employer Services (personal income taxation and immigration services) and Transfer Pricing.
The associated law firm Reff & Associates has a team of 46 lawyers and is ranked as a leading firm by prestigious local and international legal directories such as Legal 500, Chambers and Partners and IFLR1000. Over the past year the firm has been involved in the most prominent deals in the M&A, banking and finance and real estate sectors. According to public data, in 2013 Reff & Associates assisted in four out of the largest M&A deals in Romania.
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