Clearer Fiscal Procedure Code

Tax inspections for large companies lasting no longer than six months; fines reduced by half if paid within 48 hours; fiscal receivables to possibly compensate ex officio. These are just a few of the modifications that Parliament made to the Fiscal Procedure Code. “The amendments cleared up the provisions on the Fiscal Procedure Code’s scope of application,” stated Neculae Plaiasu, chairman of the National Fiscal Administration Agency (ANAF). The changes in the “inspection” chapter specify that the duration of a tax inspection shall not be longer than six months in the case of major taxpayers, or for companies that have secondary headquarters. In a similar manner, the inspection of other companies shall not take longer than three months. Measures to reduce red tape were also provided for. One example is the provision allowing the fiscal authorities to compensate fiscal receivables ex officio any time they identify mutual receivables, instead of waiting for taxpayers to file a request in this regard as previously took place. ZF