What powers tax authorities got to search undeclared incomes of wealthy taxpayers
Starting this year, tax inspectors will have the power to look
into bank accounts, assess the wealth of individuals with visibly
large fortunes and levy the 16% tax on a basis that includes any
incomes uncovered by the tax authorities, but whose source cannot
be justified by taxpayers, according to the emergency ordinance for
the Fiscal Code modification that the Government passed in late
2010.
The 'personal fiscal status' is the new concept tax authorities
will use to assess and monitor large fortunes against the taxable
incomes declared by the owners of the respective fortunes.
The stake of these increased powers that tax authorities were
granted: determining and taxing incomes whose source cannot be
justified by taxpayers, namely a crackdown on evasion.
On the basis of the personal fiscal situation assessment, fiscal
inspectors will estimate the real revenues on the basis of which a
taxpayer got to his or her fortune.
The final target is to compare the real estimated incomes with the
incomes declared by a taxpayer for taxation and taxing the gap in
the case it exceeds 10%, but is not smaller than 50,000 RON.