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Finance Minister: Development of state guarantee programs - a priority

Adrian Câciu

The development of state guarantee programs such as IMM Invest or Agro IMM Invest is a priority for the Finance Ministry, FinMin Adrian Caciu said today, mentioning that he would like state funding to be directed towards areas where added value is created.

"We are looking, right now, at the programs that are underway, IMM Invest, Agro IMM Invest, because I would like state funding to be directed to areas where added value is created: manufacturing, processing, export. It is not enough to guarantee loans for companies regardless of their activity, we can find formulas to also guarantee projects in the intermediate and service economy, but I believe that we must diversify our programs so as to make a priority of economic reconversion, of the transition from consumer economy to production economy. And this will be a novelty, at least in the state's guarantee policy, and in the next months you will see more state-guaranteed programs dedicated to production, but also to the transition to the digital future, the transition to green energy, the costs of transition companies that must be supported by state grants or by state-guaranteed loans," Adrian Caciu told an event organized by the Romanian Brewers Association.

Speaking of taxes, the Finance Minister stressed that only "those who are on the wrong side of the economy" should be afraid of taxation.

"What I want to convey about taxation and reporting to the economy is that only those who are on the wrong side of the economy should fear taxation - there will be no new taxes or tax increases, but we will be increasingly less lenient towards tax crime - I'd say zero tolerance for tax evasion. This is not necessarily about the brewery sector, but whoever plans to do business in Romania by dodging taxes should understand that they won't find tolerance at the Finance Ministry. Whoever duly pays taxes in Romania and does his job will benefit from the facilities the state budget or even European funds can attract to the economy. In my opinion, economic incentives should be directed to those who are fair to the state and to their own local economy, horizontally or vertically. (...) Correct taxpayers will benefit from programs and policies that finance them and help them develop further, while those who don't should change their ways and become tax-compliant," Adrian Caciu also said.

He emphasized that tax evasion in Romania is extremely large when referenced to European economy.

"The way it is now, the tax system generates, for various reasons, an extraordinarily large evasion when referenced to what the European economy means. This is also about the way the authorities are doing their job or about their administrative capacity to collect taxes. It's also about the way in which certain economic sectors are operating, not to mention the VAT gap, which is the largest in Europe, a shameful position from my point of view," the FinMin specified.


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