More than a third (37%) of the companies surveyed by EY in a new study say they have not taken advantage of the tax incentives offered by Romanian law. Furthermore, the market remains dominated by excessive bureaucracy and unclear legal provisions, which are the main reasons for the companies’ inaction.
Thus, the EY Romania study „Financing and Taxation: How to Turn the Legal Framework into a Competitive Advantage Regarding Tax Facilities,” conducted in April 2026, offers a relevant insight into how Romanian companies perceive taxation, legislative opportunities, and the real barriers to accessing them. The analysis of the responses shows an intention to use them, but against the backdrop of the current economic context, marked by multiple financial and legislative pressures, a tendency towards a cautious approach to tax benefits is also observed.
In a complex economic conjuncture, the Romanian business environment finds itself at a turning point: interest in the facilities offered by legislation is real, but their utilization remains cautious, fragmented, and often postponed.
The data reveals a structural tension between legislative potential and companies' ability to transform the tax framework into a competitive advantage. The problem isn't a lack of tools, but the difficulty in applying them in a predictable, secure, and efficient manner.
Perception of the tax burden
Nouă din zece companii consideră că nivelul costurilor fiscale este mediu sau ridicat (mediu – 50%, mare – 43%) și numai 7% consideră că acesta este scăzut. Această percepție nu reflectă doar nivelul taxelor, ci și volatilitatea cadrului normativ, frecvența modificărilor legislative și costul conformării. Fiscalitatea este resimțită ca o presiune constantă asupra profitabilității și un factor care influențează direct deciziile de investiții.
This pressure is immediately reflected in cash flow. For the vast majority of companies, paying tax obligations is not a routine matter, but one that requires financial prioritization. Over 90% of respondents state that paying taxes is either difficult or requires postponing or restructuring other initiatives. In practice, taxes compete directly with investments in technology, expansion, or human capital, and tax incentives are viewed more as a mechanism for balancing cash flow than as an optional benefit.
In this context, awareness of tax incentives is relatively high. More than three-quarters (76.1%) of companies report that they are aware of these instruments. However, awareness does not automatically translate into action. A quarter of companies remain completely outside this framework, and many of those who are aware hesitate to take the step toward actual implementation. The study thus indicates a clear gap between general awareness and the ability to apply legal provisions.
Clear and immediate benefits are accessed
When accessing incentives, companies almost exclusively choose instruments with immediate impact and relatively clear rules. Income tax reductions related to equity (38%), the exemption from income tax on reinvested profits (38%), or the application of reverse VAT taxation on imports (36% of respondents) are the top three preferred incentives precisely because they offer quick benefits and reduce pressure on liquidity. VAT adjustments for uncollected receivables follow the same pattern, with nearly one-third (28%) of respondents selecting this incentive. The above options indicate a prudent approach, focused on concrete results and avoiding gray areas in the legislation.
Bureaucracy and unclear legislative provisions
Principala barieră în calea extinderii utilizării facilităților fiscale nu este lipsa interesului, ci complexitatea normativă. Aproape jumătate dintre companiile care au încercat să aplice au întâmpinat dificultăți generate de prevederi legislative neclare (43%), neîncadrarea în condițiile legale 13% și alte dificultăți (birocrație R&D – 7%). Problema principală rămâne însă aceea că peste o treime dintre respondenți (37%) nu au aplicat pentru niciun fel de facilități fiscale.
The research and development (R&D) zone, for example, is perceived as having high potential but difficult applicability due to administrative requirements, certification processes, and lengthy implementation times. This could be translated into the idea that without clarity and guidance, no matter how promising they are, these facilities remain underutilized.
Another factor influencing the decision to apply is the perception of the risk of a tax audit. Although only a quarter of companies (25%) have been subject to an ANAF audit regarding the tax incentives they have utilized, the fear of audits remains. The study suggests, however, that this risk is often overestimated. The relatively limited experience with inspections in this area indicates that properly documented and substantiated applications significantly reduce exposure, and taxpayers’ fear of tax audits should not be a decisive argument for inaction.
Looking ahead, the data indicate that taxpayers are undecided, not resistant. Most companies do not rule out taking advantage of tax incentives, but have not yet made a firm decision (62%), and only a minority explicitly state that they do not intend to use them (15%). This wait-and-see attitude, however, reflects a maturing decision-making process: companies are no longer looking for quick fixes, but rather for certainty, predictability, and a clear understanding of the risk-reward ratio. The good news is that a quarter of respondents (24%) said they will take advantage of the incentives provided by the legislation.
The objectives pursued through tax incentives confirm this pragmatic approach. Reducing the impact on cash flow is the top priority (75%), followed by improving financial indicators (64%) and using incentives as a tool for employee retention and motivation (61%). Tax benefits are thus integrated into financial and human resources management, rather than being treated as mere one-off savings.
On the other hand, the study also highlights untapped potential in the area of non-repayable grants. Most companies have not accessed such funding (64%), and among those that have, access to European funds has been predominant (67%), with the remainder coming from national funds. The barriers are similar to those encountered with complex tax incentives: cumbersome procedures, high administrative requirements, and a lack of dedicated resources.
„The overall picture is that of a proactive yet cautious business environment, aware of opportunities, constrained by operational and legislative realities, as well as by prudence, perhaps even excessive. I would say that the tax burden is structural, not cyclical, and tax incentives are increasingly perceived as necessary tools for maintaining competitiveness. However, the decision to implement them is influenced by timing, context, and implementation capacity,” explained Andra Cașu, Head of Direct Taxes at EY Romania.
The conclusion could be that the real challenge for Romanian companies is not the lack of favorable legislation, but transforming it into real economic value. Regulatory clarity, specialized support, and the integration of tax facilities into a coherent financial strategy can make the difference between excessive caution and the efficient use of a legal framework that offers opportunities worth considering, both in the development of companies and in tax optimization efforts.
