Other emergency orders should appear in the next few days, Daniel Angel, partner, coordinator of PwC’s tax and legal services in Romania, said on Friday, referring to a recent draft law on some fiscal and budgetary measures.

“I can answer this rhetorical question (are we ready for tax changes – no) very easily. No, we have no way, it is impossible to be ready for what has been and what will be. From to As far as we know, we will have more a few surprises or extraordinary resolutions coming in the next few days.Also, when the negotiations started this summer, everyone expected the same thing: to make changes, but we didn’t. Unfortunately, that didn’t happen, and we saw what happened this week and what has already been published,” said Daniel Angel at the “Get Ready for the New Financial Wave” conference organized by PwC Romania, reports Agerpres.

He said the recent tax changes “raise many signs of concern” and tensions in the business environment have increased over the past two months.

The Ministry of Finance published on Tuesday a draft law on some fiscal and budgetary measures to ensure Romania’s long-term financial stability.

The regulation introduces from next year a minimum tax of 1% of turnover for companies with a turnover of more than 50 million euros, which sets the income tax below the minimum turnover tax.

An additional tax is also introduced for banks, which will be calculated at the rate of 1% of turnover.

At the same time, the threshold for entering the micro-enterprise category will decrease from EUR 500,000 to EUR 60,000. For micro-enterprises, the draft law provides for two tax rates – 1% and 3%, depending on the income received and the nature of the activity carried out.

For those who receive income from the activities of creating computer programs or from construction, tax benefits will be limited under a single individual employment contract. It is also proposed to limit the use of these benefits until December 31, 2028 inclusive, similar to the period provided for fiscal benefits granted to construction, agriculture and food industry, and to introduce a ceiling up to which exemption from paying income tax is granted, respectively, to the level of 10,000 lei inclusive. For part of the gross monthly income exceeding 10,000 lei, tax benefits are not applied.

The project also includes measures to reduce expenses of institutions and state authorities. Among them is a reduction by at least 25% of the positions of the state secretary, state adviser/deputy state secretary/vice president and equivalent positions of public dignity, the abolition of vacant positions, the abolition of the position of the head of positions, and a reduction in the weight of state management positions in the total number of positions of the main sanctioning body the level of loans from 12% to 8%.