Romania’s Government is preparing a tax amnesty for individuals and companies that would target almost RON 100 billion (EUR 21 billion) worth of unpaid taxes.

Former finance minister Darius Valcov, now an advisor to prime minister Viorica Dancila, was the first to launch this idea on Monday, July 16, and current finance minister Eugen Teodorovici confirmed it on Tuesday.

Valcov said that individuals and companies have unpaid taxes of RON 98 billion, 84% of which will never be recovered, local Hotnews.ro reported. He argued that tens of thousands of companies and close to one million individuals are in this situation and can’t get bank loans or do other things. A fiscal amnesty would help them solve their problems and restart the business environment.

Valcov also said that such a decision should be made and not overly debated.

Finance minister Eugen Teodorovici confirmed that the Government will decide on a tax amnesty this year and said that it would help the state recover about RON 17 billion (EUR 3.65 billion) from bad taxpayers, according to local Digi24. He added that the Finance Ministry supports such a measure as long as it has positive effects on the economy.

editor@romania-insider.com