Amendments to the settlement procedure for returns with negative amounts of VAT requested for reimbursement

View this page in: Romanian
14 April 2014

In brief

The Procedure concerning the settlement of returns with negative amounts of VAT requested for reimbursement has been amended and supplemented by Order no. 491/2014 of the Ministry of Finance, published on 7 April 2014.

In detail

  • Under the new legislative provisions, irrespective of the VAT amount requested for reimbursement, all tax payers will be subject to an elaborate risk analysis procedure, in order to obtain the VAT reimbursement;
  • Settlement of VAT reimbursements can be finalised even if another tax inspection related to a prior period is still in progress;
  • Tax payers granted VAT reimbursement with subsequent fiscal inspection will be subject to a risk analysis to determine a list of tax payers to be selected for subsequent fiscal inspections.

The above-mentioned provisions are applicable starting with the VAT returns related to March 2014.

[Source: Official Gazette of Romania no. 249 dated 7 April 2014]

The takeaway

Settlement of VAT reimbursements can be finalised even if another tax inspection related to a prior period is still in progress.

 

For a deeper discussion of how this new legislation might affect your business, please contact: 

 

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