Romanian Fiscalis 2005-2007

Author:Niculae DONE, Teodora ALECU, KPMG

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Keywords:taxpayer, fiscal strategy, interpretation, solution, informational communication, small businesses

Abstract:
Romanian taxpayers are affected on a daily basis not only by major changes in the Fiscal Code, but also by changes in laws regulating social security contributions, including health and unemployment benefit payments. Many changes affecting these contributions were made in 2005 and in the first months of 2006.\r\n\r\nTaxpayers are likely to pay their dues in full only if they are aware of both the obligations and rights granted under the fiscal law in force. For instance, employers should know the tax incentives which exist for hiring specific categories of people, such as new graduates, people over 45, the disabled , and the unemployed in general.\r\n\r\nAs EU accession approaches, the Romanian fiscal system is continually evolving to align with European regulations and tax principles, which will involve increasing communication between tax authorities from different member states.

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