Amendments to the Tax Code to be adopted by Gov’t ordinance. Draft state budget for 2018 to be submitted to parliament in early November – PSD leader says

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The amendments to the Tax Code and to the tax procedure Code will pass as Government ordnance and will be unveiled after the government sitting, Social-Democratic Party (PSD) leader Liviu Dragnea Monday evening after talks in the governing coalition on the 2018 budget projection.

“We have also talked about a series of amendments and supplements to the Tax Code and the Tax Procedure Code that will pass by ordinance. They will be unveiled after the Government sitting,” Dragnea said.

“I want to emphasise a provision in the Tax Code that needs to be amended and supplemented. Most business operators, if not all, have complained over the years that they are at the mercy of tax inspectors, who decide and analyse, for instance whether in a Value-Added Tax (VAT) chain, when they have to approve VAT refunds, they may decide not to refund the VAT if they consider that the business operator in question knew or could have known if somewhere along the chain – the fourth or fifth chain company – was late with VAT payments. We came up with a provision that we find natural, namely the tax inspectors may refuse VAT return if, after considering the evidence, they can prove beyond any doubt that the operator knew or could have known that. Use is made of the business operator’s presumption of good faith and it will be for the inspectors to prove beyond any doubt that the business operator in question is guilty,” Dragnea said.

Referring to the draft state budget for 2018, the PSD chairman said it will be submitted to parliament in early November and probably adopted by the end of the month or in early December.

During the same meeting with PSD leaders, Dragnea said: “I believe the draft state budget will be submitted to Parliament in November so that in late November, early December it is adopted.”

Liviu Dragnea added that the budget deficit target will be the same in 2018 – i.e. 3% of the GDP. “We have also discussed about the positive budget rectification this year and the deficit will be below 3%,” Dragnea said, adding that the draft budget approval depends also on the CSAT.

 

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