Romania will suspend most tax audits, extend the deadline for an annual profits tax, and speed up refunds for valued-added taxes to help businesses during the coronavirus pandemic.
The temporary measures will apply while Romania remains in a state of emergency—declared Monday to help fight against the spread of the respiratory disease Covid-19—and 30 days after the status is lifted, the Ministry of Public Finance announced. The latest decision comes after the ministry last week extended deadlines for paying building, land, and vehicle taxes.
- Tax audits will be limited to cases that can be carried out remotely or to cases of tax evasion, the ministry said.
- The new deadline for annual profits tax returns will be April 25, instead of March 25.
- A new value-added tax reimbursement mechanism, aimed at settling the payments speedily, will go into effect April 1.
To contact the reporter on this story: Jan Stojaspal in Prague at jstojaspal@correspondent.bloomberglaw.com
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