Starting this year, tax inspectors will have the power to lookinto bank accounts, assess the wealth of individuals with visiblylarge fortunes and levy the 16% tax on a basis that includes anyincomes uncovered by the tax authorities, but whose source cannotbe justified by taxpayers, according to the emergency ordinance forthe Fiscal Code modification that the Government passed in late2010.
The 'personal fiscal status' is the new concept tax authoritieswill use to assess and monitor large fortunes against the taxableincomes declared by the owners of the respective fortunes.
The stake of these increased powers that tax authorities weregranted: determining and taxing incomes whose source cannot bejustified by taxpayers, namely a crackdown on evasion.
On the basis of the personal fiscal situation assessment, fiscalinspectors will estimate the real revenues on the basis of which ataxpayer got to his or her fortune.
The final target is to compare the real estimated incomes with theincomes declared by a taxpayer for taxation and taxing the gap inthe case it exceeds 10%, but is not smaller than 50,000 RON.
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