President Basescu pleads for reduced levels of taxation

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Romanian President Traian Basescu beleives there is a need of a reduced level of taxation in Romania, especially in the difficult conditions generated by the global economic crisis, so as to stimulate the production and to allow thus a faster redressing of the economy.

‘We made a commitment to maintain the flat tax and, more, to reduce the number of taxes a company has to pay now in Romania. I also believe there is need of a reduced level of taxation, especially in the difficult conditions of the global crisis, in order to stimulate production and later allow a recovery of the economy. I am positive the Romanian business environment is favourable to the foreign investors, even if I am aware there are still things that need to be improved,’ Traian Basescu said on Tuesday, May 5, while participating in a meeting with the members of the Foreign Investors Council.

The Romanian head of state voiced his conviction Romania is able to come out of the crisis ‘with minimum losses, including by getting support from the members of the Foreign Investors Council,’ also adding they bring a very important contribution to Romania’s Gross Domestic Product (GDP).

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