Starting this year, tax inspectors will have the power to look into bank accounts, assess the wealth of individuals with visibly large fortunes and levy the 16% tax on a basis that includes any incomes uncovered by the tax authorities, but whose source cannot be justified by taxpayers, according to the emergency ordinance for the Fiscal Code modification that the Government passed in late 2010.
The 'personal fiscal status' is the new concept tax authorities will use to assess and monitor large fortunes against the taxable incomes declared by the owners of the respective fortunes.
The stake of these increased powers that tax authorities were granted: determining and taxing incomes whose source cannot be justified by taxpayers, namely a crackdown on evasion.
On the basis of the personal fiscal situation assessment, fiscal inspectors will estimate the real revenues on the basis of which a taxpayer got to his or her fortune.
The final target is to compare the real estimated incomes with the incomes declared by a taxpayer for taxation and taxing the gap in the case it exceeds 10%, but is not smaller than 50,000 RON.
Starting this year, tax inspectors will have the power to look into bank accounts, assess the wealth of individuals with visibly large fortunes and levy the 16% tax on a basis that includes any incomes uncovered by the tax authorities, but whose source cannot be justified by taxpayers, according to the emergency ordinance for the Fiscal Code modification that the Government passed in late 2010.
The 'personal fiscal status' is the new concept tax authorities will use to assess and monitor large fortunes against the taxable incomes declared by the owners of the respective fortunes.
The stake of these increased powers that tax authorities were granted: determining and taxing incomes whose source cannot be justified
