Romanian individual tax payers will submit just one declaration for their income tax and their social contributions from January 2013, as the country's Tax Administration (ANAF) will also collect social contributions as of July this year.

This has been recently agreed with the International Monetary Fund (IMF), which is supporting the ANAF to restructure and modernize itself. ANAF will also approve a multi-annual project with the World Bank by the end of 2012.

ANAF will start collecting social contributions from July this year, but tax payers will have to declare them jointly from the beginning of next year. So far, individual tax payers have been submitting social contribution declarations and paying contributions with the respective institutions, the Health Insurance House and the Pensions House.

editor@romania-insider.com