The minimum turnover tax in its current form is a brake on the automotive industry and for 2026 it is necessary to reduce this tax by at least half, Deputy Prime Minister Tanczos Barna told on Tuesday the third edition of the Sustainable and Accessible Mobility Forum.
'The automotive industry in Romania is a pillar of the national economy, it is Romania's largest exporter, it is a sector that supports the national economy and therefore the government has the responsibility and obligation to find fiscal and economic policies to support it. We have the elephant in the room, we can acknowledge that. We have the IMCA [minimum turnover tax] and the fiscal credit, two proposals put forward by the sector, two proposals that must be analysed very quickly and a decision must be taken as soon as possible by the government. I believe that the minimum turnover tax is currently a brake on the automotive industry in its present form. I support reducing it in a first phase and then gradually, if we manage to reach agreement in the coalition on this matter, we must eliminate it in the medium term. Certainly, for 2026 it is necessary to reduce this tax by at least half, a tax which is in fact a profit tax but not lower than for example 0.5 percent of turnover,' Tanczos said.
According to the official, discussions are under way at the Ministry of Finance on promoting an ordinance on the fiscal credit for research and development.
'At the same time, for several months now at the Ministry of Finance we have had the ordinance ready, which can be promoted at any time, regarding the fiscal credit for research and development. It would be and must be a recognition of the fact that this industry invests heavily in innovation, research and development in areas that must be supported. For this reason, this fiscal credit must be approved as soon as possible. I had a discussion yesterday morning at the Ministry of Finance on these aspects. We will continue the discussion tomorrow and I am convinced that we will find an economic package, we can call it an economic recovery or national economy support package, which will include these two elements,' the deputy prime minister mentioned.
The Romanian Automobile Manufacturers and Importers Association organised on Tuesday the third edition of the Sustainable and Accessible Mobility Forum.
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