Romania’s Finance Ministry is preparing a series of amendments to the Fiscal Procedure Code. These include measures related to tax controls, such as introducing the possibility to select a certain tax period for inspection, as well as changes to the insolvency procedure.

The tax obligations could also be guaranteed with letters of guarantee issued by non-banking financial institutions, according to these amendments. The changes also provide that the tax authorities will be able to organize electronic auctions to make better use of seized assets.

Authorities will also simplify the procedure for verifying one’s personal tax situation.

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