Internal Revenue Service

PM Citu: I'm interested in keeping same tax system until 2024 the least

Prime Minister Florin Citu on Tuesday said, at a discussion with representatives of the Coalition for the Development of Romania, that he wants the tax system to remain the same at least until 2024, without tax increases. "Since our last discussion, we also have a Minister of Finance whom you could have a dialogue with.

Major slump in 2020 tax revenues

Budget data for 2020 showed that the health crisis resulted in a considerable contraction in tax revenues, which missed their target by 7.6 billion euros. The lockdowns, the furloughs and the drop in corporate income tax deposits were the main reasons for the slump in tax takings, which is expected to continue in the first quarter of this year.

New arrangement for arrears to the state

The Finance Ministry is drafting a plan for taxpayers to repay the debts that have accumulated during the pandemic so that enterprises and freelance professionals can start looking ahead again.

The debts to the state that have been suspended for now exceed 3 billion euros, while the pool of expired dues has grown by about €5 billion since the start of the year.

National Revenue Agency: Tax Campaign in Bulgaria Launched

Today, 11 January the tax campaign for physical persons' incomes received in 2020 has been launched, reminds the National Revenue Agency.

The declaration and payment of income taxes received last year can be made electronically - via personal identification code or electronic signature, or on paper - either by post or physically in an office of the revenue agency.

More measures to ease burden on taxpayers

Prime Minister Kyriakos Mitsotakis announced on Friday four new government initiatives meant to prop up hard-hit households and businesses, including an increase in the number of installments for income and property taxes and a small discount for the payment of annual tax dues in a lump sum ahead of the deadline for the first tranche.