Progress Report on Fiscal Policies, May 23-27, 2016
The Ministry of Public Finance (MFP) has submitted a draft bill aiming to amend the Fiscal Procedure Code as to streamline fiscal practices. The amendments to the Fiscal Procedure Code are designed to clarify fiscal procedures, thus eliminating eventual issues that authorities with jurisdiction over fiscal matters may be facing. MFP has also operated changes in the VAT reimbursement procedure, with the order enforcing the new rules being published in the Official Gazette on May 24. Thereimbursement is different from the repayment of VAT and addresses transactions between VAT payers and not-for-profit entities.  


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Weekly Policy and Political Report, May 16-20
Over the past week, the local political stage focused on the ongoing electoral campaign. The campaign for the June 5th local elections has blocked the activity in Parliament, with both chambers deciding to suspend their parliamentary activity until the election day, due to electoral activities in the territory. Before the unofficial parliamentary recess, Deputies managed to adopt the public procurement bills, which were recently signed into law by President Klaus Iohannis. However, before coming into effect, the new public procurement legislation has to have its enforcement guidelines adopted as well, with the Cabinet pledging that the final form of these


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Progress Report on Fiscal Policies May 16 - 20, 2016
This week, the Draft Bill for the approval of the Government Emergency Ordinance for the prorogation of the deadline for reporting financial information related to accounts opened and/or closed by taxpayers was put up for debate with the Senate, the first notified chamber. The Ordinance setting the new deadline for August 31, 2016, was approved by the Government and it is currently awaiting the adoption in Parliament. 


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Progress Report on Fiscal Policies, May 9-13, 2016
Over the past week, ANAF made the headlines by publishing the list of arrears of small debtors and releasing its four-month activity review. The Fiscal Authority has also prepared a new draft for Form 088 and announced the first successful asset recoveries conducted by the General Directorate for Foreclosures and Special Cases. ANAF's president Dragoș Doroș has made a series of clarifications on the main tasks that the Fiscal authority is currently undertaking. Form 008, which is currently being redrafted, contains fewer questions and exempts the owner of the VAT code from resubmitting the Form.


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Weekly Policy and Political Report, May 9-13, 2016
Over the past week, the Government lost its fourth member in less than three weeks with the resignation of Health Minister Patriciu Achimaș-Cadariu. In the meanwhile, Prime Minister Dacian Cioloș has taken up the task of acting Minister of Health. The Minister of Agriculture is also under scrutiny this week, being subject to a simple motion initiated by PSD and ALDE, to be discussed early next week. Also this week, the anti-missile shield was inaugurated in Deveselu, which prompted a negative reaction from Moscow. In terms of banking policy, the debt-to-equity swap law came into effect on Friday, May 13, but the Law has yet to be implemented, as it currently lacks enforcement guidelines.


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