Government endorsed amendments to reduce pressure on business environment

Reforms target to reduce pressure on business environment are persisted. 

Government endorsed two draft laws on Monday to simplify entrepreneurs' activities. Accordingly, less reports will be presented to FISC, gentle fines will be issued if they fail to submit on time annual data to the National Bureau of Statistics (NBS).

Amendments were made after over 200 accountants and business leaders submitted petitions to the Ministry of Finance in January. In October 2018, fines for businessmen who did not report in due time to the NBS increased considerably and reached 17500 lei.

New amendments stipulate that the penalty was reduced from 8500 lei to 2250 lei for senior staff and  from 17500 lei to 2750 lei for legal persons. 

Thanks to the changes, businessmen will reduce reports to FISC. Until now, when an employee resigns or has maternity leave, the employer was required to submit a form to the State Tax Service on the same day. Subject to the new changes, this could be done within 10 working days .

In October 2018, the tax reform that provides for a reduction in the income tax for individuals from 18% to 12%, by setting a single rate, and doubling the personal exemption, entered into force.

The changes gave entrepreneurs the premises to increase employees' salaries, and in 2017 the number of institutions with control functions was reduced from 70 to 13.

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