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.
Nearly seven out of ten Romanian employees say their job negatively impacts their overall wellbeing, while only 37% receive any form of non-wage benefits, according to a new study conducted by Reveal Marketing Research in partnership with Up Romania. The research explored how Romanians define complete wellbeing, or “Wellbeing 360°,” and what factors most influence […]
Former presidential candidate Călin Georgescu asked the Supreme Council of Magistracy (CSM) to take measures against president Nicușor Dan for allegedly pressuring judges and interfering in the justice system, G4media.ro reported. The far-right...
Technology company Endava has signed a framework agreement with Romania’s Authority for Digitalization (ADR) to support the migration of at least 30 government applications to the new Government Private Cloud, a project funded through the National Recovery and Resilience Plan (PNRR). The collaboration marks a major step in Romania’s digital transformation strategy, aimed at creating […]
Cris-Tim, the leader in the Romanian cold cuts and ready meal markets, announced on October 15 that it has received approval from the Financial Supervisory Authority to list its shares on the Bucharest Stock Exchange (BVB). The offering is taking place between October 17 and 29. The initial public offering consists of the sale of […]
The private pensions law, which sets out how money can be withdrawn from private pension systems like Pillar II and III, passed the final vote in Parliament and is heading for promulgation. According to the new regulation, participants could withdraw at most 30% of the accumulated savings upon retirement. The rest of the money is […]
The Petrotel Lukoil refinery in Ploiești, in Romania’s Prahova county, will shut down completely for 45 days for a scheduled general overhaul, the company announced on Thursday, October 16. The maintenance work will take place between October 17 and November 30 and will cover both technological installations and auxiliary units,
