Mazars: The local economy must deliver trust to investors

Rene Schob, Partner, Head of Tax Advisory Services of Mazars Romania thinks that the level of trust in Romanian economy is foremost for investors: The key influence on our business does not necessarily come from a certain macroeconomic indicator, but from the overall level of trust in the business environment and the fiscal framework

2014-07-23 12:46:13

Mazars role is to provide support for the multinational and local organizations all though the process of implementing their business strategies and market development plans. Our activity is therefore strongly related to the trust that businesses have in the local environment. We can develop our activity when investors, multinational and local companies are confident to develop and invest on the Romanian market," the manager said.

Trust means predictability and stability

This fact has become more evident especially nowadays when uncertainty and volatility mark the global markets. Predictability and stability have been a sensitive issue in Romania for a long time, especially in the matter of taxation. Since 1995, when Mazars started the activity on the Romanian market, we saw frequent changes made overnight in the tax legislation. This reality has been causing significant difficulties for companies and sometimes made investors have serious doubts with regard to the fairness and stability of the environment. Many of them reconsidered the intention to expand or start new businesses here. The large number of repeated changes in the regulations also led to a certain lack of clarity that affected the tax framework. Against this background, the step of rewriting the Fiscal Code and the Fiscal Procedure Code that the Ministry of Finance has recently completed is very important and expected to encourage the trust in the tax system.

Read the full interview with Mazars partner in the upcoming edition of The Diplomat-Bucharest , covering the French investments in the Romanian economy.