Romanian taxation system, unattractive for investors

The Czech Republic, Romania and Greece are the European countries with the least attractive taxation system, while fiscal systems in Cyprus, Ireland and Switzerland are the most encouraging, according to an opinion poll carried out last summer by KPMG International, a consulting and audit company, the Czech news agency CTK reports, quoted by Rompres.

Of the 28 European countries included in the poll, the Czech Republic, Romania and Greece ranked the last in the standings, on account of the intricate fiscal legislation and of the frequent modifications operated on this legislation. Romania is the one but last with 21 points out of 100, and Greece is the last in the ranking with 14 points.

Cyprus is the most attractive European country in terms of the fiscal system, with 90 points out of 100. Slovakia ranks eight, with 61 points, Bulgaria - 12th with 51 points and Hungary 13th with 47 points. The poll was conducted in July - August 2007, and interviewed 403 tax experts for companies in EU Member States. All interviewees worked for companies operating in more than one EU Member State.

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