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Measures to support the business environment given the difficult economic context

In this issue:

The set of measures taken by the National Agency for Fiscal Administration, given the difficult economic context caused by the spread of the infection with COVID-19 virus

 

During this period, given the difficult economic context caused by the spread of the infection with COVID-19 virus, the National Agency for Fiscal Administration has prepared a set of measures to support the business environment, the most important being:

- suspension or, as the case may be, non-commencement of the forced execution of the budgetary debts (with certain exceptions);

- VAT reimbursement, during March, for all settled returns and for which reimbursement decisions have been issued;

- implementation of a new VAT refund mechanism, intended to speed up the settlement of VAT returns, starting with the 1st of April 2020;

- suspending tax audits (tax inspections, anti-fraud controls), except for checks that may be performed remotely, as well as tax evasion cases, where there are indications in this regard;

 

The measures will be applied during the period in which Romania has declared a state of emergency and for a period of 30 days from the end of this state.

At the same time, the deadline for filing tax returns is postponed from 25 March 2020 to 25 April 2020.

Prepared by:
Miruna Enache – Partner, Tax and Law Department, Transaction Tax Leader
 
For additional information, please contact:
Alex Milcev – Partner, Tax & Law Leader Romania
 
Ernst & Young SRL
Bucharest Tower Center Building,
22nd Floor, 15-17 Ion Mihalache Blvd.,
Sector 1, 011171, Bucharest, Romania
Tel: (40-21) 402 4000, Fax: (40-21) 310 7124
Email: office@ro.ey.com
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