(P) Tax Flash: Certification of annual tax returns by a tax consultant in Romania, suspended

Emergency Ordinance no. 35/2011, published in the Official Gazette no. 253 / 11 April 2011 The Emergency Ordinance (EO) suspends the provision of article 83, paragraph (5) of the Romanian Fiscal Procedure Code referring to the certification by a tax consultant of the annual tax returns of corporate taxpayers, except for those subject to compulsory audit requirements. According to the EO, the applicability of the above provision is suspended until 1 January 2013, implying inter-alia that the not yet submitted tax returns for 2010 / the second fiscal period of 2010 could be eventually not subject to certification. By Venkatesh Srinivasan, Partner – Head of Tax and Legal, Ernst & Young Romania (P) – this article is an advertorial