“Romania is one of the highlights of this year’s edition of the Paying Taxes report, as result of the steps taken by the tax authorities between 2010-2013, which facilitated electronic filling and payments,” said Mihaela Mitroi, Tax and Legal Services Leader with PwC Romania.

Romania’s ranking is currently one of the best in Central and Eastern Europe. It surpassed Poland (87), Hungary (88), Bulgaria (89), Slovakia (100) and the Czech Republic (119). Romania is still outranked by the Baltics States (Latvia – 24, Estonia – 28, Lithuania – 44), Croatia (36) and Slovenia (42).

Romanian companies must currently perform 14 annual payments, compared to the European average of 12, and spend 159 hours to comply with tax requirements, while the European average is 176.

However, Romania ranks slightly above the European average when it comes to the total tax rate, which evaluates the corporate income tax that a mid-sized company must pay, with a 43.2% tax rate.

At international level, the total tax rate of the standard company is 40.9% of commercial profits, it makes 25.9 tax payments per year and spends 264 hours in order to comply with tax requirements. (Source: Romania-insider.com)