Almost a third of the 313 Romanians who will be checked by the tax authority for possible tax evasion had potential undeclared revenues of over RON 5 million (EUR 1.13 million) between 2011 and 2013, according to ANAF.

Romania’s National Fiscal Administration Agency – ANAF has started a program to check wealthy individuals with a high fiscal risk. The tax authority will check some 5,400 individuals.

Some 313 people will be verified in the program’s first phase, 101 of whom had potential undeclared revenues of over RON 5 million, according to ANAF. Some 18 people will have to answer for more than RON 20 million (EUR 4.5 million) of potential undeclared income.

Any undeclared revenues found following these controls will be taxed with a 16% rate, but ANAF may also dictate other penalties.

ANAF’s controls target high financial risk individuals, such as public employees who own valuable assets, wealthy businessmen whose companies have posted losses in recent years, as well as artists and people who may get revenues from illegal activities such as usury.

Romania’s tax authority starts offensive on tax dodgers, will check 5,400 high-risk individuals

Romanian Tax Authority increases collected revenues by 7.2%

editor@romania-insider.com