Petrom, the biggest company on the Romanian market, last year paid 55 million euros as ruled by the National Fiscal Administration Authority (ANAF) after the tax authority found expenses registered as deductible in the company’s books, but which did not qualify as such.
“Last year, after the check of a petroleum company was
finalised, the authority ordered that the company pay 55 million
euros,” said Sorin Blejnar, ANAF chairman, quoted by
Mediafax.
According to ANAF sources, the amount was paid by Petrom after the
company registered certain expenses as deductible, which did not
qualify as such.
“It was a routine check, with the ANAF representatives examining
the company’s books over several years. Following these checks,
certain deductible expenses were deemed as non-deductible by ANAF
inspectors. The company decided to make the payment last year,”
explained market sources, specifying that the amount did not affect
the company, considering its big turnover.
Deductible expenses can be broadly defined as expenses deducted
from revenues in order to calculate the taxable profit.