Romania’s tax administration agency ANAF said it would launch a massive tax audit on companies considered to have a high fiscal risk.
ANAF said that the controls will start after companies submit the form 101 regarding the profit tax, for which the deadline is March 27.
The agency claimed that it changed its audit approach and would check companies only after finishing a massive risk analysis.
“In the spirit of transparency, ANAF informs taxpayers on the operations that it will launch and reminds them that they have to declare all the acquisitions and sales and to deduct, both for profit and VAT purposes, only the amounts for transactions that in line with legal provisions,” said the organization.
According to ANAF, the tax audits will start in April, with a focus on the profit tax and VAT, for all companies, including the financial and banking sector.
PM Sorin Grindeanu had announced earlier this week that the ANAF would roll out a 14-measure plan by April, designed to improve the way in which the companies are checked by tax inspectors. The PM added that Romania’s new prevention draft bill would be put up for debate this year. In short, the bill will force the tax authorities to assist taxpayers in solving their issues and if the companies don’t fix their fiscal issues, fines will be issued.