92% of Romanian CEOs are concerned about the increasing tax burden, and 86% of them fear the Government’s response to the fiscal deficit, according to the results of the PwC Romania CEO Survey 2014. This is the second highest concern level in the world after that of France, where all the CEOs have cited increasing tax burden as the top threat to their company’s business and well above the global average of 70%.
In the same time, 92% of Romanian CEOs agree that companies need to pay their “fair-share” of taxes.
84% consider that multinationals should be required to publish revenues, profits and taxes paid for each territory where they operate and 80% agreed it was appropriate for tax authorities around the world to share freely with each other information they have on companies.
“What Romanian CEOs are telling us is that the tax policy has a high impact on the competitiveness of their companies and fear that the measures meant to balance the budget have been taken mostly at their companies’ expense. In the same time, they acknowledge that the low level of tax collection is one of Romania’s vulnerabilities and strongly support initiatives to increase tax collection and combat tax evasion, which is seen as unfair tax competition. 53% of Romanian CEOs expect the Government to create a more internationally competitive and efficient tax system”, stated Mihaela Mitroi, Tax and Legal Services Leader, PwC Romania in a conference organized today by PwC.
88% of Romanian CEOs thought the government priority should be to improve the country’s infrastructure – the highest percentage in the world, while 78% of them thought their government had failed to achieve this so far. Also, they would like the Government to ensure financial sector stability and access to affordable capital (65%).
Notes to editors:
1. Survey Methodology:
For PwC's 17th Annual Global CEO Survey, 1,344 interviews were conducted in 68 countries during the last quarter of 2013. By region, 445 interviews were conducted in Asia Pacific, 442 in Europe, 212 in North America, 165 in Latin America, 45 in Africa and 35 in the Middle East. The results for Romania are based on responses from 49 local CEOs.
A detailed report with the results for Romania will be launched in the coming months.
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