Romania’s Government wants to change the laws on the sale of precious metals, finding that counterfeiting has significantly gone up, the black market for jewelry has flourished, local producers have almost disappeared, and tax evasion is at a very high level.

If the new rules are introduced, the Government could attract an additional amount of RON 10 million (EUR 2.2 million) per year to the state budget from reducing tax evasion.

The Government has announced the European Commission that it wants to introduce new rules. The new bill provides the introduction of a mandatory marking system by the National Authority for Consumer Protection (ANPC).

Companies that sell precious metals will need to present the products’ documents of origin to the authorities. Moreover, they will be obliged to grant consumers a quality certificate.

editor@romania-insider.com