Budget revenues collected in Romania up 4.6% in first quarter

The budgetary revenues collected by Romania’s National Agency for Fiscal Administration ANAF in the first quarter of the year totaled RON 42.4 billion (EUR 9.5 billion), representing a year-on-year increase of 4.63 percent (nominal index ). In March 2014, the total budgetary revenues amounted to some RON 15 billion (EUR 3.3 billion), up 2.3 percent (nominal index) compared to the same month of 2013. In fall 2013, ANAF opened a new division, the General Directorate for Fiscal Anti-fraud (DGAF), with 850 staff, and expected a growth in collected taxes. In 2012, tax evasion reached 13.8 percent of GDP in Romania, a figure of EUR 19 billion (RON 84.14 billion), according to estimations made by the country’s Fiscal Council. More than half of this amount came from the VAT evasion, which represented 8.3 percent of GDP in 2011 -2012. editor@romania-insider.com The nominal index excludes the effects of inflation