about us | newsletter | contact | archive | members area
Bogdan Nitulescu, Tremend
Cryptocurrencies volatility is a big problem»
  News:      POLITICS   |   ECONOMICS   |   ENERGY   |   INVESTMENTS   |   APPOINTMENTS   |   INFRASTRUCTURE   |   GREEN   |   REAL ESTATE   |   AGRIBUSINESS   |   DRIVING   |   CITY LIFE   |   EVENTS   |

Romania ranks 52 of 189 countries in Paying Taxes 2015 top

Romania ranks 52nd in the Paying Taxes 2015 top, climbing by 82 positions compared to the previous edition of the top. It is now among the best ranking countries of Central and Eastern Europe, according to the annual report made by PricewatershouseCoopers (PwC) and the World Bank.

2014-11-21 14:31:40

According to the source, Romania is among the best ranking countries in Central and Eastern Europe before Poland (87), Hungary (88), Bulgaria (89), Slovakia (100) and Czech Republic (119) but is behind the Baltic states (Latvia 24, Estonia 29, Lithuania 44), Croatia (36) and Slovenia (42).

"Romania is one of the performers of this year's edition of Paying Taxes report and that was possible due to the measures adopted by fiscal authorities over 2010-2013 to facilitate electronic payments and online declarations," said Mihaela Mitroi, the leader of the Fiscal and Juridical Consulting Department of PwC Romania.

At present, companies in Romania must make 14 tax payments in a year (compared to the European average of 12 annual payments) and are spending 159 work hours to fill in and send these declarations, the European average being 176 hours. On the other hand, for the overall tax rate, which measures the share of taxes and contributions made by a company as profit percentage, Romania ranks slightly above the European average with 43.2% compared to 41%.

At global level, the overall average tax rate of a company is 40.9% of commercial profit, with 25.9 payments per year and 264 hours spent to fulfill fiscal requirements. "In the ten years in which the Paying Taxes report was made, the time spent by a company for fiscal payments dropped by 10 days, which shows the increase of the use of electronic payments at world level. 105 of the 379 fiscal reforms recorded in Paying Taxes reports starting with 2004 concern the online deposition of fiscal statements and payments," the PwC report shows.

Paying taxes 2015 takes into account mandatory contributions a company has to make during a year. Taxes and contributions include the tax on profit, social contributions and labour force taxes paid by employers, taxes on property, on transfers of property, tax on dividends, on financial transactions, for waste collecting, fleet and road taxes and other smaller taxes.

The Paying Taxes report analyzes tax paying in 189 countries in the world by taking into account three major indicators: overall taxing rate, which measures the share of taxes and contributions paid by a company as percentage from profit, the time needed to comply with fiscal law and the number of payments made by a company to fulfill fiscal obligations.

The annual Paying Taxes study is based on the Paying Taxes chapter of the World Bank Doing Business report.



COMMENTS
'.$nr_comm.' comment:
'; } else { echo 'There are '.$nr_comm.' comments:
'; } while ($row = mysqli_fetch_array($result, MYSQLI_ASSOC)) { echo '
'.$row['nume'].": on ".$row['data']."
"; //echo str_replace('\n','
',$row['comentariu']); echo nl2br($row['comentariu']); echo '
'; } ?>

0 Comments  |  6895 Views
Daily Info
Smart city is not a fad, it's a necessity

In June 2018, the ranking of the most "smart" cities in the world was published. In other words, the most advanced cities in terms of human capital, social cohesion, the econo...

Ondrej Safar, CEZ Group: "Romania can become a hub for international smart solutions providers"

"We are already in the digital age, so the upward trend of implementing smart solutions is inevitable in all areas," he tells The Diplomat-Bucharest. "Especially in terms of u...

Telekom Romania, a strong supporter of Smart City development in Romania

Just like many other countries in the world Romania is now facing an unprecedented growth of the urban population, which can be both beneficial and detrimental for the society...

In the industrial era, the fight was for finite material resources. Not anymore

Now organizations fight and develop themselves for and around their talent. In a nutshell, getting ahead in today's business world is all about attracting and inspiring an e...

Richard Sareczky, Mol Limo: "We look at expansion locations across CEE including Romania"

Consumer mobility behaviour is changing, leading to up to one out of ten cars sold in 2030 potentially being a shared vehicle and the subsequent rise of a market for fit-for-p...

 
 
   
advertising

advertising

advertising

More on News
President Iohannis urges Romanians to be more united, stay involved in modernizing Romania

Romania's President Klaus Iohannis urged Romanians in France to be more united and stay involved as much as they are now in helping modernise Romania.

2 Comments

Two billion youth risk of being left behind in the Fourth Industrial Revolution workforce, says Deloitte

Almost two billion youth worldwide risk of being left behind in the Fourth Industrial Revolution (Industry 4.0) workforce, which is changing at an increasingly rapid pace a...

1 Comment

ArcelorMittal receives binding offer for European assets from Liberty

British-owned Liberty announced a conditional agreement to buy four European steel plants, employing more than 12,500 people.

3 Comments

Revolut gets European banking license

Fintech startup Revolut is now officially a bank. While the startup initially expected to get its European banking license during the first half of 2018, the company has fi...

1 Comment

The Romanian labour market needs a well-thought approach, says FIC

The Foreign Investors Council (FIC) has signaled in the past 2-3 years that its members are anticipating increasing strains on the Romanian labour market because starting w...

1 Comment

Dacia receives 115.8 million RON in state aid from the Finance Ministry

The Romanian Finance Ministry has signed five more grant agreements under the state aid scheme, and among the beneficiaries are Automobile Dacia, with RON 115.8 million.

1 Comment

EBRD cuts economic growth forecast for Romania

Romania's economy will grow by 4.2 per cent this year and by 3.6 per cent in 2019, according to the most recent forecast released by the European Bank for Reconstruction an...

1 Comment