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New Rules Concerning Taxpayer's Liability in Romania

Written by: Bridgewest

New-Rules-Concerning-Taxpayers-Liability-in-Romania.jpgThe National Agency for Fiscal Administration (NAFA) in Romania has implemented a new set of measures concerning the liability of taxpayers in the country. According to the new rules, those who were removed from the fiscal record can still be held liable for any violations of the tax law. Our Romanian accountants can tell you more about how these new rules apply and how you can observe the fiscal rules.

New framework for the fiscal record

 
The newly introduced framework for the fiscal record sets forth different rules for taxpayers. The most notable change concerns those who were removed from the fiscal record. NAFA now asks the archived data to be kept for a period of ten years from the date of the removal (de-registration with the tax authorities). This will help authorities check the behavior of individuals who opened a company, an association or foundation in Romania.
 
The archived information can be used further in order to provide the base for a risk analysis, based on which the National Agency for Fiscal Administration can select taxpayers who are subject to tax audits.
 

Liability for taxpayers

 
The new rules extend the liability period for taxpayers in Romania. The archived data will allow the NAFA to hold taxpayers liable for financial wrongdoings for ten years after the data has been erased from the fiscal record.
 
The new ordinance includes even more changes regarding the tax record, the regulations for registration and removal as well as the release of this document. The most important changes include:
 
- the ability to make an online request for obtaining the fiscal record;
- the ability to request the issuance of the fiscal record form from any competent tax authority;
- new exemptions for data that must be included in the fiscal record;
- new rules for the removal of fiscal inactivity from the fiscal record (until now, this procedure was not regulated).
 
The new rules concerning the fiscal record have entered into force on September 3rd. For more information about compliance with these new rules as well as professional accounting services in Romania, you can contact the experts at our Bucharest accounting firm.