Finance News by Mazars Romania - June 2022

Thu | 30.06.2022

Accounting/audit/tax

Finance News by Mazars Romania - June 2022

Mazars publishes CEE Tax Guide 2022

Mazars published its tenth edition of its regional tax guide, which presents snapshots and comparative charts of the tax systems of 22 CEE countries for 2022.

The guide offers up-to-date information on taxation in 22 European countries, including labor costs, corporate profit taxation, and transfer pricing. The guide serves long-term investment decisions by analyzing long-term taxation trends and fundamental changes in the tax regimes, both in comparison with each other and to previous years.

In addition to the Visegrad Group, the guide analyses the tax regimes of the South-Eastern European countries, Germany, Austria, Moldova, Ukraine, and the Baltic States, focusing on changes and trends in the tax regimes.

Key findings:

The region's tax wedge remains relatively wide, ranging between 15 and 51%;
Countries maintain a characteristically different approach to income taxation and tax relief for families with children;
VAT remains the prime source of tax revenues in the listed countries; digital technologies have visibly improved the efficiency of tax collection;
There are still significant differences in the approach to corporate taxation in the region. Only one country reduced its corporate profit tax rate from last year.

Read more info HERE.

Environmental tax pillar in the environmental, social, and governance system, by Mazars

Environmental taxes could play a significant role in reducing adverse impacts of business activity on the environment. A realignment of activities to comply with environmental responsibilities as well as appropriate disclosure and reporting of the expected future costs could help in maintaining a good company image.

Mazars’ tax experts, Bianca Vlad, Tax Partner, and Daniela Purcoi, Senior Environmental Tax Consultant, shared their insights in a recent material. Learn more about:

ESG background;
Pollution taxes;
Level of environmental tax in the CEE region.

Read more info HERE.

Accounting CEE Summit - Looking at the Past 10 Years and Beyond in Taxes, by Mazars

At the end of May, Mazars was a proud sponsor of the Accounting CEE Summit, a two-day conference filled with thought-provoking insights, that all businesses should take into account. Mazars’ expert, Dr. Daniel Nagy, Tax Director, discussed about the following topics:

Taxation trends in the CEE region;
An overview based on the 10th edition of Mazars CEE Tax Guide;
Possible approaches in different jurisdictions for increasing tax revenues;
State of the game – taxing the digital economy.

Read more info HERE.

CEE Sustainable Finance Summit, by Mazars

The International Center for Sustainable Finance (ISFC) organized the CEE Sustainable Finance Summit, sponsored by Mazars, from 16-20 May 2022 in Prague.

The summit brought together politicians, experts not only from Mazars, financiers and other dignitaries to discuss the future of sustainability, especially in the region of Central and Eastern Europe. During the summit, a new ISFC report was published - outlining steps for sustainable investment in this part of the old continent.

Mazars’ expert, Razvan Butucaru, Partner, Financial Services & Advisory Leader, moderated the panel regarding the capital markets in CEE, and tackled, together with the other speakers, the main priorities for the region, the approaches and tools that are best suited for the CEE countries, as well as the challenges and opportunities for the governments and the private sector.

Read more info HERE.