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oai:doaj.org/article:48c723d977b64afab60cc642c9e6223f

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FISCAL REFORM IN THE CONTEXT OF EU INTEGRATION. A ROMANIAN PERSPECTIVE

Abstract

Acting as EU member, Romania participates in the legislative process at this level and recognizes the principles of direct, immediate and priority applicability of EU legislation in national legal framework. Even if specialized legal literature has presented consistently the principle of fiscal sovereignty of member states within the European Union, we note the need for tax harmonization and the progress that has already been made in this direction. Tax harmonization at EU level is the complex process of aligning the normative rules in taxes levied by the Member States in order to reduce (and, if possible, eliminate) the negative effects the differences between Member States tax systems are generating on the common market. The most effective instrument for implementing tax harmonization is, in our view, achieving a Fiscal Union among the Member States. Inside the EU, the level of tax harmonization is far outweighed by the monetary harmonization, despite the fact that fiscal policy and monetary policy are linked. This lack of coordination was even more evident throughout the global financial crisis that appeared globally. In this framework, the EU Member States have negotiated and signed the Fiscal Treaty, a legal tool that provides mandatory measures on the supervision and control towards financial and fiscal stability. The effects of this piece of regulation are present, but they are not sufficient to insure the macro-economic stability of the European Union. In our opinion, the solution could be to regulate a single European tax, but the subject is currently only a research hypothesis.

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