The Leading Edge - Spring 2009 - 13

5 distinction and discrimination exist between international and national companies. The Romanian Tax Code is aligned to EU legislation and all necessary measures have been taken to eliminate the potential distinctions between the profits of the national companies compared with those of the international companies. (The flat tax on profit is 16 percent; tax on dividends works to eliminate the differentiation, according to EU instructions.) 9 politics affect romania as a whole and the operation of business. 6 7 Cheap labor costs are paid in romania. An increase in the salaries in Romania has been scheduled and carried out for 2007-08 in an effort to match the level of the income earned in the Western European countries. Romania, however, still needs to improve the direct link between the remuneration and the work productivity. The local government is undertaking changes that are bound to affect the way public administration works. The private companies however, are able to perform their daily activities in a wellbalanced business environment. it is complicated to register a company in romania. There is a clear procedure for setting up and registering a company in Romania. After the submission of the necessary paperwork to the Trade Registry, the certificate of registration is obtained within five days. 10 romania is not a good place to do business. 8 the justice system in romania is corrupt. The elimination of the corruption is one of the targets of the Romanian Justice Ministry and the Romanian Parliament. The Romanian legal system is under strict monitoring of the EU Commission. EU standards and principles will soon be implemented in Romania as well. Come and bet on the Romanian market, the Romanian people with their enthusiasm, dedication and willingness to succeed, and the Romanian positive perspective! e For further information, please contact Alin Stan of Dasons Business Services Romana, a Leading Edge Alliance firm, at alin.stan@dasons.edu. ThE LEadIng EdgE 13

The Leading Edge - Spring 2009

Table of Contents for the Digital Edition of The Leading Edge - Spring 2009