Innovations in the area of ​​taxation at the international level and in particular in the European Union are complex and aimed, in particular, at increasing fiscal transparency through increased regulation, such as detailed real-time reporting of taxes and fees, fiscal risk-based analysis and targeted controls. What changes will have the biggest impact in 2023? How are companies preparing? These topics were discussed during the annual PwC tax conference in Romania 2023.

“Business operates in a global world, increasingly digitized, subject to transformations, and tax legislation must keep up in order to achieve the most fair and transparent taxation. For many years, we already have a public discussion at the international level about “fair taxation” of company profits, about transparency and fiscal justice. This debate has led to increasingly stringent rules in the direction of destination taxation, the introduction of a global minimum income tax, digital reporting and tax transparency. Transparency is demanded not only by governments, but also by a wider group of stakeholders who influence regulation, the procedure for conducting tax audits, risk analysis, and reporting on tax liabilities. All of this has implications for taxpayers, who have ever-increasing obligations to comply with the law, requiring greater resources and costs, at least in the medium term,” he explained. Ruxandra Tarlescu, partner of PwC Romania.

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Article supported by PwC Romania