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TAX NEWS - June 2010

Romania Tax: Specific measures for the combat of tax evasion

The Ministry of Public Finance (MFP) sent European Commission (EC) representatives technical clarifications on the Government's Emergency Ordinance on specific measures for the combat of tax evasion and are waiting for an official answer to the provided explanations, reads a MFP release.

'Yesterday, June 9, 2010, the Ministry of Public Finance sent European Commission representatives a series of technical clarifications in connection with the EO on measures aimed at combating tax evasion. We are waiting for a formal reply of the Commission to our explanations,' mentions MPF.

According to the cited source, the MFP standpoint referred to the EC mentions that these measures will be applied until December 31, 2011. 'The main purpose of the Emergency Ordinance is to tighten the rules for the more efficient combat of tax evasion. The standpoint sent to the Commission clearly states that the measures will be applied until December 31, 2011,' said the Finance Ministry.

The European Commission reiterated its remarks concerning the Ordinance on specific measures for the combat of tax evasion and asked the Romanian authorities to provide as soon as possible a response about the issues that are not in agreement with European legislation, the press officer of the EC Commissioner for taxation, customs union, audit and anti-fraud told Agerpres.

'The new law will raise a number of concerns over the consistency with the EU legislation on taxes and excise duties. The tax on luxury goods has been in force until the end of 2009, when it was scrapped after talks with the Commission. The Romanian authorities consulted the Commission very late about the Emergency Ordinance and the deadline for receipt of relevant comments was very short. Because the Ordinance was adopted in a shorter than established term, Romania did not take into account the remarks the EC might have had on the topic,' mention the EC representatives.

According to Romanian Minister of Finance Sebastian Vladescu, the Emergency Ordinance on specific measures for the combat of tax evasion could come into effect late this week or next week.

'Passage of the Ordinance on specific measures for the combat of tax evasion is a matter of days. It could come into effect this week or next week,' said Vladescu.

The main areas where the authorities are particularly intent on reducing tax evasion are trade with cigarettes, alcohol, oil products, intra-community trade, food commerce in particular.
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