Romania's Tax Institution nudges companies to submit financial statements

Romania’s Tax Institution ANAF could ask the Trade Registry’s Office (ONRC) to deregister companies that exceed the deadline for submitting their financial statements by more than 60 days. A company’s creditors may also do that, according to a law recently promulgated by President Klaus Iohannis, reports local Hotnews.ro. The new law will come into force in various stages. Some of its provisions will apply within three days after its publication, some within 90 days, whereas some provisions will apply starting July, 2017. According to the new law, every person will be able to find certain information about companies in the European Union, through an interconnection system of the EU member states’ trade registries. The law also introduces an identification element for companies at EU level. editor@romania-insider.com