Rich Romanians declared in 2014 EUR 32 million worth of income from abroad. The amount was seven times higher than in 2013, which amounted to only EUR 4.1 million.

In February, the Romanian Tax Administration ANAF announced that it would extend the control of large fortunes and would target 4,800 more individuals. The institution launched the project in 2011 and it initially targeted 400 Romanians with wealth over EUR 20 million.

This project has determined the seven-time increase of the declared income from abroad in 2014 over 2013, according to ANAF. Wealthy Romanians have received notifications from ANAF reminding them about their fiscal duties.

Finance Minister: 30 of Romania’s richest can’t justify their fortunes

editor@romania-insider.com