How should companies build 2011 budgets? Flat tax, VAT and lump sum tax, uncertain
There is nothing certain about the 2011 taxation system,
considering there are pressures for the flat tax to be cut to 12%
or even 10%, VAT is not sure to be kept at 24%, and the
introduction of the lump-sum tax has not been settled, so that
businesspeople do not have a clear direction to build their 2011
budgets on.
So far, none of the countries that adopted the flat tax has given
it up, with pressures pointing to a lower tax so as to keep the
competitive edge.
As regards VAT, raised to 24% starting July, not even the
medium-term fiscal strategy specifies whether this level will be
maintained or not.
About the idea related to the introduction of a new lump sum tax
starting next year to replace the minimum tax, the prime minister's
advisor says we should not hurry.
This year, the frequent modifications of the fiscal code have
disturbed the business environment, with domestic companies and
investors finding it hard to adjust to the new rules.