The Ministry of Public Finances is to delay the single Treasury account for VAT, income tax and social contributions from January to July 2018. On December 22, MFP put up for debate a Draft Emergency Ordinance that extends for six months the deadline for the single Treasury account. At present point, there are two separate Treasury accounts: one for paying income taxes, corporate taxes and VAT, and another one for paying contributions to the pension, health and unemployment funds.
On December 20, 2017, the Chamber of Deputies (decision-making chamber) adopted the legislative initiative amending GEO 109/2011 on corporate governance. The Bill was registered with the Chamber on June 12, 2017, and for more than six months it was in stand-by, until December 19th, when a favorable report was issued. The version adopted by the Chamber of Deputies massively extends the list of companies exempted from the provisions of GEO 109/2011. FIC warns that the current form might make it impossible for Romania to join the OCDE. Fondul Proprietatea reacted to the news, arguing that the changes make the law inapplicable. FP’s representatives made a public plea for President Iohannis to send the law back in Parliament for reexamination. Liviu Dragnea stated that he did not see much performance following the enforcement of GEO 109/2011, and that there is no harm if companies of strategic interest for the Romanian state are managed through the state.
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