Stem cell bank owner fights with Romanian Tax Administration over VAT

The international group Cord Blood Center, which owns the stem cell bank Cord Blood Center (CBC), recently asked the court to allow it to start legal reorganization of its business in Romania, the company said, reports local Mediafax. Cord Blood Center Group operates in Romania through two companies, CBC Laboratories and Cord Blood Medical Center, which have been exempt from paying VAT by the Cluj branch of the Romanian Tax Administration ANAF since 2009, for services related to processing and storing umbilical cord blood. ANAF Cluj recently backtracked its official decision from 2009 and asked the two companies to retroactively pay the VAT for the last five years, reads the group's press release. editor@romania-insider.com