The Employers' Association of Romanian Accounting Entrepreneurs (PACR) is calling for an end to what they say are "chaotic regulations" in the RO e-VAT system and to make tax authorities responsible at the same level as taxpayers.The employers are voicing "deep disappointment" with the implementation of the RO e-VAT system, arguing that it should be abolished, given a recent order of the chairman of the National Tax Administration Agency (ANAF) introducing a pre-filled VAT return, considered "inadequate and inopportune.""If the tax authorities insist on the implementation of the pre-filled VAT return, we would have expected that the amounts presumed by the authorities regarding the VAT payable or VAT to be recovered would be owned up by them."The amounts, they say, especially the VAT payable "requested by the tax authority from taxpayers, are not owned up by the authorities, which shows that the system cannot work efficiently."The employers also point to parts that are not owned up by the tax authorities."Row 38: 'VAT to be paid during the reporting period' - this fundamental element for the national budget, estimated at about RON120 billion from VAT, is not owned up by the authorities. The lack of this information can distort the national budget. Row 41: 'VAT payable cumulatively' - the most important information for any tax analysis, indicating the VAT due cumulatively by the taxpayer, is not included in the pre-filled statement. Row 44: 'Negative VAT amount to be paid' - although the term ?negative' is used, it represents the VAT to be refunded from the national budget to the taxpayer, essential for the national budget and taxpayers, especially for those who make investments or are exporters," according to the employers.The employers say the analysis of the controversial piece of legislation and the challenging situation ensuing the recent order of the ANAF chairman was carried out by Adrian Benta, a tax consultant and financial auditor.
The exhibition RomanIa – Identity representation of traditional dress in art, currently on view at the National Museum of Art of Romania (MNAR), gathers a variety of artistic representations of the traditional blouse ia, from painting and sculpture, to drawing, photography, installation, film, music, posters, fashion, books, albums, and more. It includes works by Henri […]
Over 136,000 non-EU citizens held residence permits for employment in Romania at the end of August this year, most of them coming from Nepal, Sri Lanka, Turkey, Moldova, and India, and two out of three immigrants live in Bucharest, Ilfov, Constanța, Timiș, and Cluj, according to a study conducted by the Economic and Social Council. […]
Romanian prosecutors conducted house searches in 12 locations in Bucharest and two in Târgu Mureș on Wednesday, November 26, in a case targeting former employees of bankrupt insurer Euroins. Specifically, the searches targeted 10 individuals who held executive management positions within Euroins, as well as the headquarters of legal entities controlled by the Bulgarian shareholders […]
Prices in Bucharest’s premium residential market have doubled over the past few years, reaching record highs amid a severe shortage of supply in the city’s most exclusive neighborhoods, Cushman & Wakefield Echinox said. Areas such as Primăverii, Kiseleff, Aviatorilor, and Dorobanți continue to dominate demand. Over the past 2 or 3 years, prices for premium […]
The Romanian Consulate in New York shared on social media the story of George Pomuț (George Pomutz, born Gheorghe Pomuț), the Romanian-American who facilitated the sale of Alaska to the US. Despite his role in US history, the Romanian is largely unknown today, the Consulate noted. Pomuț was born in the Hungarian town of Gyula, […]
Shares of Cris-Tim Family Holding (BVB: CFH) began trading on the Bucharest Stock Exchange on November 26 after an IPO worth RON 454.35 million (EUR 89.3 million) conducted last month. Cris-Tim is now the largest entrepreneurial company in the food sector on the BVB Main Market. The funds raised from institutional and over 8,000 retail […]
