Romanian Finance Ministry To Reduce Paperwork Filed By Small Businesses

Romania's Ministry of Public Finance plans to reduce the paperwork required from small enterprises and allow them more time to file tax statements, state secretary Dan Lazar said Thursday in a seminar hosted by daily paper Ziarul Financiar.

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Ministry officials recently held a meeting with accountant associations and employer organizations on ways to simplify accounting procedures for small economic agents.

According to Lazar, the tax filing timeframe will be extended to three months for companies which are currently required to submit their paperwork every month, to six months for quarterly statements, and one year in the case of certain types of business.

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