Correlation between the Romanian Fiscal System and the Basic World Tax Code

Abstract

This paper analyses the Romanian Fiscal System in relation with the requirements of a functional market economy. As a base for this analysis, we used the Basic World Tax Code, a Project Sponsored by the Harvard University International Tax Program, which proposed a Fiscal Code for the developing and transition countries. We approached the main elements of the Romanian Fiscal System: Income Tax, Value Added Tax, Excise Taxes, Property Taxes and Tax Administration. We concluded that, although the Romanian Taxes are, in general, harmonized with the market economy exigencies, the inefficiency of the Romanian Tax Service makes their practice to be doubtful.

Keywords: Fiscal System Reform, Developing and Transition Countries, Tax Code

JEL Classification: H20, H25, P20