Romanians Earning RON50,000 More Than Declared Income To Pay 16% Of Difference As Tax

This provision was added to the Fiscal Code through a Government Decision on Thursday.

The minister said undeclared income will be revealed by looking at actual expenses, cash flow and changes in wealth. The tax will be applied to "people with very high income," he said.

"We will run checks on people with very high income. It is exactly like in the United States: 1% of the population accounts for 40% of budget expenses. We have to use these methods if we are to be successful in preventing tax evasion," said the minister.

If you liked this story, please follow MEDIAFAX.RO on FACEBOOK »

The content of mediafax.ro is for your information only. Republishing or using this content is forbidden without express consent of MEDIAFAX. For this consent, please ask for it by mail at vanzari@mediafax.ro.