The Foreign Investors Council (FIC) welcomes the amendments to the e-VAT normative act, agreed upon with the Ministry of Finance representatives during the meeting on June 27. The modifications decided upon include: A 6-month grace period during which no penalties will be applied, and the VAT information statement will not affect the taxpayer’s tax risk. The possibility of testing the system during a 6-month pilot phase. Access to data collected from taxpayers by ANAF through the SPV. The establishment of a consultative group by the Ministry of Finance and ANAF to identify necessary adjustments for the proper functioning of e-VAT in collaboration with the business environment. FIC emphasizes that the digitalization and modernization of ANAF are essential for increasing tax collection, reducing the VAT gap, and easing the pressure on the state budget. For over a decade, FIC has contributed position papers and good practice examples to support these efforts. The digitalization measures of tax administration—such as SAF-T, e-Invoice, and e-Transport—require sustained efforts from companies. These measures demand predictability throughout the implementation process and close collaboration between the business environment and the Ministry of Finance to identify and resolve blockages. Companies expect that implementing these measures will lead to better tax collection, simplified fiscal compliance, and a reduced administrative burden. Therefore, data already collected by ANAF should be analyzed, and no additional measures should be taken that excessively burden taxpayers. Adopting good practices from other countries, which have achieved higher tax collection through digitalization and conducted studies to detect fiscal gap causes, established clear measures, and set a feasible implementation timeline, is also recommended.
Romania will join the Schengen Area with its land borders starting January 1, 2025, according to Romanian prime minister and Social Democrat (PSD) leader Marcel Ciolacu, who was on a visit to Brussels on Monday, November 18. The Romanian PM said during an interview that the decision regarding Romania’s accession with land borders will be […]
Exorigo-Upos, the Polish company that provides IT technology solutions for the retail sector, is preparing to take its presence in Romania to the next level by establishing an innovation hub in Bucharest. The new center will focus on developing and testing cutting-edge technologies tailored to the Romanian market, in line with the company’s long-term strategic […]
Eva and Victor, ages 16 and 17, respectively, will advocate for climate action as members of Romania's delegation at the United Nations Conference on Climate Change – COP29, held in November 2024 in Baku, Azerbaijan. The two teenagers also have clear roles in the conference. Victor, for example, will co-moderate the Climate Youth Forum, where […]
Natural gas producer Romgaz (SNG), a company in which the majority stakeholder is the Romanian state, listed on Tuesday, November 19, its first corporate bonds amounting to EUR 500 million on the Bucharest Stock Exchange. The bonds, also listed on the Luxembourg Stock Exchange since the beginning of October 2024, are part of a tranche […]
The Bucharest Court of Appeal ruled on Tuesday, November 19, to return the case involving Andrew and Tristan Tate to prosecutors at DIICOT, citing several irregularities. The judges also decided to remove several pieces of evidence and statements from the file, according to
Program empowers women in Romania to step into management or advisory board roles Offering actionable advice for women in businesses seeking strong governance Supporting EU gender diversity targets with inclusive leadership programs The European Bank for Reconstruction and Development (EBRD) celebrates Women’s Entrepreneurship Day on 19 November 2024 by highlighting the EBRD Women on Boards […]
