Marius Ionescu – speaker at the Romanian Economic Forum 2021

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Marius Ionescu, Tax Partner and Co-head of NNDKP Tax Advisory Services, was a speaker at the Romanian Economic Forum, organized by Finmedia and Piata Financiara on October 20th, 2021.

During his presentation Marius talked about the legislative and fiscal impact of Romania’s National Recovery and Resilience Plan (NRRP).

He pointed out that:

  • Through the NRRP, the Romanian state aims to tackle two major issues in the area of taxation:
    • the fundamental reform of the National Agency for Fiscal Administration (ANAF);
    • the revision of the tax legislation in order to eliminate certain tax incentives and legislative loopholes.
  • Through these measures, Romania has committed to increase the collection of taxes by 3% of its GDP by 2026 as compared to 2019, and to reduce the VAT gap by 5%. The additional amount that would be collected to the state budget as a result of these measures will be between EUR 8 and 10 billion.
  • The reform of the National Agency for Fiscal Administration (ANAF) envisages electronic invoicing, intelligent tax controls, the digital collection of information from taxpayers, and the aggregation of such information in interconnected and interoperable databases. Such information will be processed through Big Data methods, that will establish risk criteria and assessments to categorize taxpayers.
  • The tax incentives and legislative loopholes that would be eliminated cover corporate income tax, income tax, social security contributions and local taxes.

The recording of Marius’ intervention is available (in Romanian) here.

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