Romanian taxpayers must calculate themselves taxes owed to budget

Some 1 million Romanian residents that derive incomes from sources other than wages must fill by March 15 their income statement and calculate on their own the social security contributions and the income taxes to pay to the budget. For the first time, ANAF will no longer calculate the sums owed by contributors. This significantly reduces the workload of employees at ANAF, but opens the door for unintended mistakes that the contributors could make resulting in either excessive taxes charged by the state or later penalties to be paid for inadequate payments. “To complete the tax statement, you must have a minimum of tax knowledge, otherwise, by mistakenly ticking the boxes you risk ending with higher taxes to pay," Radu Georgescu, a partner in tax consulting firm CFO Network, told Ziarul Financiar. Other tax experts were more critical of the income statement. “To complete the statement, as it is now, you have the impression that you need one year to prepare yourself before you understand how you make all the correlations," Raluca Bontas, partner of Global Employer Services Deloitte Romania said on this topic, quoted by Hotnews.ro. She believes that the self-implantation system needs to come up with additional guidance measures. editor@romania-insider.com (photo source: Pixabay.com)