An interview with Edwin Warmerdam

Thu | 01.09.2016

Other

1. Dear Edwin, please introduce yourself briefly to our members.
I am of Dutch national, with over 25 years of professional experience in finance and taxation, of which 18 years as a tax and financial advisor in Romania (since 1998), where I successfully completed several Institutional Real Estate Projects on the Romanian market from land acquisition to the retail and office sale projects.

2. When and how did you find out about the NRCC and its activities?

I have known the NRCC from its inception in 2006 as my former collegue Rene Bijvoet has been involved in the incorporation of the NRCC. Since then I have closely followed its projects and evolution in Romania, as it is an important partner to us.

3. What are your expectations for your mandate as a board member?

I look forward to accomplishing our challenging goals together with the management team of the NRCC and the board.

4. What would be your top 3 recommendations for preserving the financial health of a company?

  1. Focus first on increasing your revenue before you are considering to reduce cost.
  2. Think twice before you invest or spend.
  3. Pay your taxes on time.

5. IMF suggested Romania to cancel or postpone fiscal relaxation measures planned for 2017. What is your opinion?

There is an adagium that the one who is paying will be asked to pay for more when making references to taxes. There would be little justification when there is a low tax collection percentage as this should be of a higher priority.

Think that some taxes could be reduced as they are considerable, like for example Property Tax, while others could increase.

Fiscal relexation as a reduction of tax rates can go hand in hand with an increase of tax revenue if the taxable basis is widened (for example a reduction of the black economy) or when introducing next taxes like other countries have inheritance tax, gift tax.

6. Since 2014, you operate in Romania Mazars Dutch Desk, supporting also Dutch investors that want to start locally. What are their main concerns & challenges?

I would say that the challenge for most investors now is their actual business in Romania. Not from  a legislative or compliance point of view, as most of this can be outsourced to companies like Mazars permitting them to deal with these challenges, thus realizing that there is a cost to bureaucracy.

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