Romania Launches Extra Tax Probe

August 7, 2015 Taxation in Romania

BUCHAREST – Pop stars and personal money lenders in Romania will soon be subject to intense scrutiny by tax authorities, as greater efforts are made to stamp out tax evasion.

In a statement made on August 6th the head of the National Fiscal Administration Agency Gelu Stefan said that the national tax authority would soon be conducting extra investigations on the tax affairs of hundreds of thousands of individual taxpayers in an effort to catch out rampart tax evaders.

The investigations will be on people who have recently made purchases of items worth more than EUR 70 000 or purchased cars worth in excess of EUR 25 000.

Currently approximately 7 800 individuals have been identified for such checks, and, according to Gelu Stefan, a significant portion of them being celebrities, popstars and personal money lenders.

Upon completion of all such investigations, the tax authority will launch further investigations into the tax affairs of individuals whose estimated income and declared income differed by at least 10 percent, and, so far, approximately 132 000 have been identified and flagged for such an investigation.

The two investigations follow on from a recent effort to curb tax evasion by small businesses which fail to record transactions conducted in cash.

Photo By: Costel Slincu