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.
Rock star Marilyn Manson will return to Romania next summer to perform at Rockstadt Extreme Fest, organizers announced on Tuesday, December 2. He is among the headliners confirmed for the local rock and metal festival, which will take place from July 27 to 31 in Ghimbav, Brașov county. “For the first time ever, Marilyn Manson […]
Romania’s government has assumed responsibility in Parliament for legislation reforming magistrates’ pensions, prime minister Ilie Bolojan announced on December 2. He said the draft law had received the opinion of the High Court of Cassation and Justice, noting that the court’s assessment was negative. It is the government’s second attempt to have the bill promulgated, […]
Romania Education Alliance (REA), the first private school network in the country, announced it has exceeded the milestone of 1,000 students enrolled across its member schools just one year after launch. "The fact that we surpassed 1,000 students in our very first year of activity shows that the REA model addresses a real need in […]
Genesis College, one of the largest private educational institutions in Romania, announced the regulatory approval of the transaction through which the investment firm Mozaik Investments becomes its majority shareholder. The transaction, signed at the end of July, received all necessary approvals from the Competition Council on November 25, and, formally, the entire investment procedure is […]
The European Bank for Reconstruction and Development (EBRD) is lending up to EUR 29.9 million to the Romanian city of Brasov to finance energy efficiency upgrades in public buildings, initiating the city’s participation in the Bank’s flagship EBRD Green Cities programme. The Bank’s investment will fund the renovation of up to 20 public buildings, including […]
This festive season, JW Marriott Bucharest Grand Hotel invites guests to embrace the extraordinary and transform each moment into a lasting memory. On New Year’s Eve, the hotel unveils The Grand Countdown — a luminous celebration of new beginnings, thoughtfully crafted across four distinctive venues, each with its own character and atmosphere. The night begins […]
