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ZF English

Harsher punishments for tax evasion

Harsher punishments for tax evasion
01.08.2003, 00:00 3

The end of next month will come with harsher punishments and higher fines for tax evasion for both individuals and legal entities. Effective August 29, the imprisonment for tax evasion may be as long as eight years compared to seven as until now, while the fines will be of no more than 100 million ROL for legal entities and 30 million ROL for individuals, instead of the previous 10 million ROL. The republished law on fighting tax evasion, already available in print in the Official Gazette, comes into effect in late August. It introduces a series of new provisions intended to fight the drafting, sale and use of special status documents outside legal conditions. In order to end the use of fake documents bearing the logo of shell corporations, the taxpayers will have to fulfil certain obligations. They shall display the operating licence and the fiscal registration certificate in the locations where they conduct their business, in case they deal in trade or provide services to the population. At the same time, the taxpayers shall use the primary and accounting documents set by the law for conducting their businesses and fill in all the chapters of the forms required by the recorded operations. ZF


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