The fiscal authorities are preparing new surprises, throughlegislative modifications for those whose fortune increases by atleast 50 thousand euros in a year, forcing them to submit wealthstatements.
If wealth statements do not match the records of the fiscalauthorities - which mainly include dividends reported by thecompanies held by those targeted, then the undeclared wealth willbe levied a 16% tax, writes Gandul daily, citing Marian Morcosa,director of the Control Department of ANAF (Romanian fiscalauthorities).
"These legislative modifications also grant power to the fiscalauthorities to conduct a fiscal inspection of the individuals whosewealth grew unjustifiably, as results from revenues reported to thespecialised fiscal authorities," Morcoasa told Gandul.
Emilian Duca, Tax Partner at BDO Conti Tax Advisors, believesthe model that the fiscal authorities want to use is not anoriginal, but an imported one, with several European countrieshaving used this crosscheck method, which is currently used inTurkey.
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