SIMILAR ARTICLES

AOAR – Economy against new Criminal Code: businessmen denounce excessive protection provided to officials who cause damages to economy

The Businessmen’s Association of Romania (AOAR) asks the ruling coalition to explain the mechanism by which, after changes introduced on Wednesday in the Criminal Code,… Mai mult

“We are working on a tax amnesty mechanism”: announcement made by Minister of Finance

Finance Minister Eugen Teodorovici said at a press conference held in Bistrita that “a mechanism of this type is in progress”, a mechanism on tax… Mai mult

Fitch confirms Romania’s rating at BBB- but warns: fiscal loosening is risky for macroeconomic stability

Fitch Ratings confirmed on Friday Romania’s rating for long-term foreign and local currency debt at BBB-, with a stable outlook, but warned that fiscal loosening… Mai mult

Number of insolvencies increased by 12% in first five months. Suspended activities – plus 31%, dissolutions – plus 59%

The increase in the number of companies and PFAs in insolvency was 11.97% in the first five months of this year, compared to the same… Mai mult

Refusal to work annuls entitlement to social assistance – bill voted in Chamber of Deputies

Deputies adopted a draft law on Wednesday whereby entitlement to social assistance ceases when a job is refused. The decision, Agerpres announced, was taken with… Mai mult

Catalin Ivan: In Romania, there are 384 companies with bearer shares, all collaborating with the state. More than EUR 40 billion transferred from Romania to offshore companies

de Razvan Diaconu , 18.12.2017

MEP Catalin Ivan stated on Friday in Iasi that there are 384 companies with bearer shares in Romania, which gives the owners the comfort of anonymity and the possibility to sign contracts with the state.

There are 384 companies in Romania. All of them collaborate with the state. Over the last ten years, none of them had difficulties, that is, to go better or worse, in the context that all parties from the political spectrum were in power, which means that the relationships between them go beyond the policy or the ideology of a party,” said Catalin Ivan, quoted by Agerpres, in a debate on “Bearer shares”.

At the event held at the Faculty of Economics and Business Administration of “Alexandru Ioan Cuza” University of Iasi, the MEP mentioned: “In an economy where people do not acknowledge their activity, it is at least dangerous from all points of view“.

I give a random example. I am the President of a County Council and I privatize a company. I give it to some friends, turn it back into bearer shares, and my friends physically hand over the shares to me, and I place them in my drawer, from me to myself. I can award contracts to myself, to my company, without anyone being able to find any connection to that company and to me. Of course, our paths are crossing throughout our lives, because I need the money they I give to me. Then, I guarantee some loans to myself that I may never pay back, I benefit from all sorts of services from the respective company but never get physical money from that company, so nobody can follow the money, you know the “follow the money” principle, and reach me. It is a way of doing things,” said Catalin Ivan.

According to him, transfers from Romania to offshore firms amount to more than EUR 40 billion.

The phenomenon exists. Suspicions are real. It is obvious to everyone that we have some very wealthy people and most of the wealth in Romania is obtained from contracts with the state. It is obvious that we have an ever-poorer population. This gap cannot be closed if Romania’s budget does not recover both in terms of revenues and expenditure“, said Catalin Ivan.

The MEP stressed that tax havens hit states both in terms of revenue and expenditure.

Recent studies show that at the European level, the wealth drained by Europeans outside the Union and untaxed amounts to about EUR 6,000 billion. Do you realize what would mean the taxes on EUR 6,000 billion? There are not EUR 6,000 billion that do not reach the budgets of the member states but EUR 6,000 billion that are not taxed whatsoever,” said Catalin Ivan.

He noted that in such situations we cannot talk only about corruption.

We do not know if that is corruption. It can be organized crime. Just as well can be terrorism, financing the terrorism. As David Cameron said when he was the Prime Minister of the United Kingdom: the sunlight is the best sanitizer. If you have light and know what is going on there, you know how to make decisions. You can know if it is good, you can assess whether it is good or not for the economy,” the MEP said during the debate.

Mergeți în homepage ›

Publicat la data de 18.12.2017

Lăsați un comentariu


NEWS

Fitch confirms Romania's rating at BBB- but warns: fiscal loosening is risky for macroeconomic stability

Fitch Ratings confirmed on Friday Romania's rating for long-term foreign and local currency debt at BBB-, with a stable outlook, but warned that fiscal loosening… Mai mult

"We are working on a tax amnesty mechanism": announcement made by Minister of Finance

Finance Minister Eugen Teodorovici said at a press conference held in Bistrita that "a mechanism of this type is in progress”, a mechanism on tax… Mai mult

AOAR - Economy against new Criminal Code: businessmen denounce excessive protection provided to officials who cause damages to economy

The Businessmen’s Association of Romania (AOAR) asks the ruling coalition to explain the mechanism by which, after changes introduced on Wednesday in the Criminal Code,… Mai mult

Number of insolvencies increased by 12% in first five months. Suspended activities - plus 31%, dissolutions - plus 59%

The increase in the number of companies and PFAs in insolvency was 11.97% in the first five months of this year, compared to the same… Mai mult

Transport infrastructure in Romania needs EUR 70 billion - double as compared to existing resources

The investment needs in Romania's transport infrastructure exceed EUR 70 billion, while the available resources by 2030 are EUR 36 billion, according to the Transport… Mai mult

Refusal to work annuls entitlement to social assistance - bill voted in Chamber of Deputies

Deputies adopted a draft law on Wednesday whereby entitlement to social assistance ceases when a job is refused. The decision, Agerpres announced, was taken with… Mai mult

Subsidy of RON 900/month for employing a graduate based on contracts of indefinite duration

The National Agency for Employment (ANOFM) grants subsidies of RON 900/month to employers who employ graduates of educational institutions, with contracts of indefinite duration, within… Mai mult

C.P. Tariceanu, before the heads of Senates from EU: The European Commission has encouraged the parallel state, in Romania it is like in the 50's

Calin Popescu Tariceanu (foto) delivered a very tough speech on Friday, in the Senate, addressed to the European Commission, which he accused of encouraging the… Mai mult

National Bank of Romania wants to lower indebtedness limit in granting loans to individuals

The National Bank of Romania (BNR) sent to banks for consultation a draft amending Regulation 17/2012, which provides for a consistent lowering of the indebtedness… Mai mult

High impact provisions: Senate has adopted PSD-ALDE amendments to the Code of Criminal Procedure

Senators adopted on Wednesday the draft for amending the Code of Criminal Procedure, by 74 votes for to 28, against. The bill goes to the… Mai mult

RBL: Workforce crisis is worse than economic crisis - 3.4 million Romanians have left the country in last 10 years

Migration is one of the most serious problems facing Romania at this time, along with the lack of infrastructure. However, the return of Romanians to… Mai mult

World Bank: Romania's economy could grow by 5.1% in 2018

Romania's economy could grow by 5.1% in 2018, according to the World Bank summer forecast. The estimate has been improved by 0.6 percentage points above… Mai mult

Ministry of Energy: Natural gas from Black Sea will be exported through Onesti - Isaccea - Negru Voda network

The Ministry of Energy issued for Transgaz the construction permit for the consolidation of the transport system between Onesti (Bacau) and Isaccea (Tulcea) and for… Mai mult