Romania’s King Michael, among the biggest individual tax debtors

King Michael I of Romania’s name appears on a list of the biggest individual debtors to the state budget, which was made public on Monday, May 16. King Michael had overdue tax liabilities worth RON 4.1 million (EUR 915,000), as of March 31, 2016, according to the list published by Romania’s National Fiscal Administration Agency (ANAF). Over half of the sum represents penalties for overdue tax debt, according to the same document. “His Majesty the King’s overdue fiscal obligations to the state budget have been contested and a legal procedure is ongoing,” King Michael’s press office announced on Tuesday, according to Mediafax. King Michael reigned over Romania between 1927 and 1930 and from September 1940 until December 1947. He was forced to abdicate by the communists and lived most of his life in exile. He was allowed to return and visit Romania after 1997. King Michael currently lives in Switzerland. In the past months, he has been undergoing a difficult cancer treatment. The Royal Family recently celebrated 150 years since it was established. The list of individual debtors includes 187,230 people with overdue tax liabilities over RON 1,500 (EUR 335) at the end of March this year. Their cumulated liabilities were RON 3.4 billion (EUR 535 million). The biggest individual debtor was Bucharest District 3 mayor Robert Negoita, who had a total debt of EUR 51.8 million. The sum represents the unpaid VAT for hundreds of apartments that Negoita sold as an individual in residential compounds developed by his companies. The prosecutors recently started an investigation against Negoita for his real estate transactions. editor@romania-insider.com