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Finance Ministry clarifying Fiscal Code changes in successive steps

18.07.2010, 23:05 7

The Finance Ministry has only partially finalised theenforcement guidelines related to the Fiscal Code changes, havingprepared a government decision that deals only with VAT and exciseduty modifications, but not with those on expanding the taxationbase and on redefining independent/dependent activities.
The Finance Ministry decided to provide the much neededclarifications, eagerly awaited by both individual taxpayers andthe business sector, in several stages, drafting several sets ofguidelines.
"It is totally not normal or understandable why the FinanceMinistry did not devise guidelines to clear up all the changes inthe Fiscal Code. Normally we would have expected to have the incometaxation part cleared up first, since there are fewer unclearissues about VAT and excise duties. This is a momentary solution,"commented Emilian Duca, BDO Tax partner.
The Ministry probably rushed to deal with the VAT and excise dutyguidelines first, considering the products subject to excises andVAT are the main tax evasion areas.

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