Mamta Murthi, Country Director for Central Europe and the Baltic Countries Europe and Central AsiaRevenue Administration Modernization Project Signing CeremonyBucharest , Romania
As Prepared for Delivery
Thank you, Minister Chitoiu, for your leadership in championing this project and speeding its preparation. Your experience as a former head of National Agency of Fiscal Administration gives you excellent insights into why the project is needed and the potential that National Agency of Fiscal Administration has to achieve significant transformation.
Your support will continue to be needed during implementation to assure that all stakeholders, including the social houses, the private sector, and the staff of National Agency of Fiscal Administration, remain supportive of the project and feel that their concerns are heard.
For the Ministry of Finance, the project offers a prospect of reducing tax evasion and increasing the resources that are available for improving the quality public services. The Government of Romania is targeting 3 percent of GDP increase in revenue over five years.
By modernizing National Agency of Fiscal Administration's operations -- including more efficient use of information technology and the expansion of taxpayer services -- the Romanian government should be able to increase revenue collection without increasing tax rates. In fact, more budget revenue brought in by improved tax compliance may create space for tax reductions down the road, maintaining of course the fiscal balances.
For the business community, the project offers the prospect of a reduction in the administrative burden of tax compliance and a more client-oriented environment. This should improve the business climate and Romania’s attractiveness to private sector investment.
World Bank in Romania
Romania - Revenue Administration Modernization Project
Mamta Murthi, Country Director for Central Europe and the Baltic Countries Europe and Central Asia
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