Romania is again the first among the member states of the EU with VAT non-collection, according to a report of the European Commission published on Thursday which shows that our country has deepened in 2019 the losses in VAT collection by six billion lei, against the previous year. According to the European Commission in 2019 the lowest deficits in VAT collection in the EU were recorded in Croatia (1%), Sweden (1.4%) and Cyprus (2.7%) and the highest in Romania (34.9%), Greece (25.8%) and Malta (23.5%).'The deficit of VAT collection of Romania got worse in 2019, getting to 35.16 billion lei, after there had been an improvement in 2018 against 2017. Practically, Romania's budget does not collect over one third of VAT or 3% of GDP, meaning almost half of the deficit estimated of the budget for this year. I think that big progress can be made with VAT collection by automation of the ANAF. For example, in 2022 reporting will be made through the standard file of fiscal audit (SAF-T)which had good results in other states. But the effects of this change in reporting will not be seen before 2024, after the majority of the tax-payers join the new system' explained Daniel Anghel, partner and leader of the fiscal and judicial services, PwC Romania.According to the reports of the European Commision,starting with 2015, Romania has occupied the first place, every year, among the member states, with the highest VAT gap. 'Over the last two years, ANAF took important steps. There is a package of integrated measures whose implementation started in 2020 and there should be some results next year'Daniel Anghel says. Annually, the European Commission monitors the VAT gap recorded at the level of member states of the European Union, indicator calculated as difference between the income from VAT estimated to be collected and that effectively collected for the state budgets. The VAT gap covers the VAT losses from fraud, insolvency, bankruptcy, administrative errors, fiscal undue advantages. PwC is a network of companies present in 159 countries with more than 295,000 professionals who offers services in the domain of audit, fiscal consultancy and business consultancy.
Romania’s Superior Council of Magistracy (CSM) issued its first response to the Recorder documentary alleging systemic manipulation within the justice system, calling the investigation an amplification of a “campaign to destabilize judicial authority.” The council said on Thursday, December 11, that it will evaluate what measures need to be taken following the report. In a […]
MedLife, Romania’s largest private medical services network, announced on Wednesday, December 10, that it reached a market capitalization of EUR 1 billion on the Bucharest Stock Exchange (BVB). The milestone secures its position as “the most valuable healthcare company” in the country. The achievement came nine years after MedLife’s listing on BVB in December 2016, […]
The Buzău Land UNESCO Global Geopark in Romania has become a “living laboratory” this week as a team of American researchers arrived to study microorganisms capable of surviving in extreme environments. The scientists, part of the interdisciplinary research organisation The Two Frontiers Project, are examining methane seeps, sulfur and petroleum springs, saline sources, and other […]
A moose has been unexpectedly spotted in the Hunedoara county area, specialists from the conservation group Rewilding Romania announced on Wednesday, December 10, sharing footage of the animal on social media. The sighting is considered “an important discovery for Romania’s wildlife,” though experts caution that it remains unclear how the animal reached this region. According […]
Trade unionists will continue to require the Presidential Administration to mediate the conflict with the government on issues such as the minimum wage or the collective labour agreement, said Bogdan Hossu, president of the Cartel Alfa trade union confederation, as reported by
Prime minister Ilie Bolojan said on Wednesday, December 10, that Romania’s state budget for 2026 will be adopted only at the end of January, citing the need for Parliament to first approve legislation required to ensure predictability and compliance with the country’s deficit targets. His comments came as the government has been working to align […]
