Enache: How can you do business amid VAT uncertainty?

12 iul 2010 Ziarul Financiar

Businessman Radu Enache, who controls 14 hotels on the Romanian market via the Continental hotel chain, which posted a 21 million-euro turnover last year, says it is very difficult to do business in the context where VAT is raised one day and there is talk of cutting it the next.
"All I can do at this time is pray. Our government doesn't know what it is doing. If they are now talking of a VAT cut, after raising it from 19% to 24% a few days ago, it means they are clueless, which is a frightening thought," said Radu Enache, whose hotels currently operate at an average 40% occupancy rate.