OPPORTUNITIES AND THREATS UPON APPLYING THE SCHEME OF VAT UPON COLLECTION

Significant amendments were brought lately to the Tax Code, regulations that target both procedural aspects referring to the input and output in relation to the new VAT scheme, and rules concerning the VAT scheme (receipt and payment of VAT). The rules concerning the scheme of VAT upon collection were completed by the authorities, some of the changes being adopted within less than one week, as is the case of the last urgency ordinance. Having in view this unwanted productivity in changing the fundamental taxation law, the Ministry of Finance declared that they would write during this summer a new Tax Code (CF), and a new Tax Procedure Code. The companies will be faced with new taxes and charges, and the money obtained by the Government from the collection thereof will be used for social protection, investments or covering shortfalls. The reduced predictability does nothing else but discourage the entrepreneurs, and also generate distrust and encourage corruption.