Investment Climate Survey Findings - From the Digitalization of Local Services, Informality and EU Integration
A survey was recently conducted with businesses on the investment climate in the country, addressing some of the most sensitive issues for entrepreneurship.
The analysis conducted with the participation of 166 businesses and municipalities shows that the landscape of business access to local digital services remains fragmented and not unified with central services, while municipalities face limited technical capacities and a lack of clear performance indicators.
Businesses remain positive towards digitalization and integration, but demand simplification and standardization of services, reduced physical contact, as well as comprehensive consultation and greater transparency on taxes and local decision-making.
Regarding the investment climate, the findings of the survey of 188 businesses highlight some positive developments, but also significant challenges. Regarding tax administration, businesses require improved communication and professionalism, clearer tax reporting, and an increase in appeal decisions in favor of entrepreneurship. Digital systems are rated significantly better by 2022, but entities still require telephone contact.
Value Added Tax (VAT) refunds were another issue in the survey, with 90% of companies surveyed applying and receiving refunds. On the other hand, there is a demand for an increase in automatic refunds. Only half of businesses apply, due to a perceived lack of trust.
Informality remains the biggest concern for the economy. In the investment climate survey, 7 out of 10 companies perceive it as high and stable, with the main forms being tax evasion and undeclared work, while the driving factors are corruption and unfair competition.
EU integration was one of the topics of the survey, which showed that only 33% of businesses have sufficient information on the Reform Agenda, 70% see integration as positive, but meanwhile only 30% of businesses expect an increase in exports without additional support.
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