Undeclared taxes more than double in Romania, to EUR 1 bln

Inspectors of Romania’s Tax Authority ANAF discovered unreported taxes of over EUR 1 billion after the first three months of the year, up 140% year-on-year. They controlled 16,087 companies with a high fiscal risk. The damage amounts to some EUR 590 million, up 63.5% year-on-year. Inspectors made a better selection of taxpayers whom to control and have targeted areas of activity with a high fiscal risk, according to ANAF. Last week, the Government approved an Emergency Ordinance that regulates the sanctions tax inspectors may apply when they find irregularities. The improved VAT collection helped Romania double budget surplus in the first quarter of the year. editor@romania-insider.com