Ranking of discernment: Spectacular increase in August in the difference between Romania’s other EU countries’ borrowing costs

The long-term interest rate fell below zero in the Eurozone and dropped to only 0.28% on average at the EU level, half as compared to… Mai mult

Tourism balance drops to minus 36%, despite billions of public money that Government pumped into the market

Net costs for the state with holiday vouchers for public sector employees and the VAT cut for tourism will amount to RON 1,878 million in… Mai mult

Continuing quantitative easing: how justified is it? (III)

In this last article from the series devoted to the analysis of the quantitative easing performed by the European Central Bank (ECB), we will deal… Mai mult

Continuing quantitative easing: how justified is it? (II)

In this second article of the series dedicated to the analysis of the quantitative easing performed by the European Central Bank (ECB), we will focus… Mai mult

Continuing quantitative easing: how justified is it? (I)

The European Central Bank (ECB) has restarted, in the summer of 2019, its rhetoric concerning the necessity of a new round of quantitative easing, i.e.… Mai mult


Analysis person by person: Government members who decided on split VAT and protect their own companies of VAT split

de Victor Bratu 16.10.2017

Photo caption: Prime Minister Mihai Tudose publicly supports split VAT but the company in which he has declared interests does not support Mihai Tudose

In the democracy, the power of example is a way often used by state officials to demonstrate the fairness of the decisions assumed.

We do not see too often that happening in Romania, nor does it happen in the specific case of the changes approved in the VAT regime: 11 Government members own or are shareholders (according to their declarations of interest posted on the official website of the Government) in private companies but none of them adopted the optional split VAT system.

The company in which Prime Minister Mihai Tudose himself is a shareholder has avoided enrolling in the split VAT system on October 1st, despite the tax advantages offered by its shareholder, Prime Minister Tudose.


Of course, you can no longer take care of a business when you have decided to dedicate yourself to the general good, so it is common sense to suppose that those who entered the Government handed over the “keys” to their own business to someone else.

But if this measure is good, as the Government and PSD officially tell us, then it should be natural to “spend” five minutes to let the person in charge of your former business to not miss the opportunity.

In the case of the split VAT, neither Prime Minister Mihai Tudose nor Deputy Prime Minister Marcel Ciolacu nor any of the other nine cabinet colleagues did that.

For this verification, the application created by ANAF for checking the business partners enrolled in the optional program has been used, so that the VAT for the acquisitions would be paid, if necessary, to the special account.

Prime Minister Mihai Tudose is a shareholder of the company 1001 Net Romania SRL, as the statement of interests submitted at the Chamber of Deputies indicates.

According to the ANAF application, the company was not registered on October 8 in the Register of legal entities applying the split VAT:

The situation repeats in the case of Deputy Prime Minister Marcel Ciolacu, who is a shareholder in three companies.

Verifications made with the ANAF application have the same result for all three companies: they do not use the split VAT payment:

Among the members of Tudose government, nine other ministers have mentioned in their statements of interests shares held in various companies:

  • Andreea Pastarnac, Minister for Romanians Everywhere
  • Florian Bodog, Health Minister
  • Gheorghe Simon, Minister of Economy
  • Gratiela Gavrilescu, Deputy Prime Minister, Minister of Environment
  • Lucian Romascanu, Minister of Culture
  • Teodor Melescanu, Foreign Minister
  • Petre Daea, Minister of Agriculture
  • Viorel Ilie, Minister for Relations with the Parliament
  • Victor Negrescu, Deputy Minister for European Affairs (with the mention made by the minister that the company of which he is a shareholder – Esprit Consulting SRL – is “in the procedure of closing down the company”)

None of the companies mentioned in the statements of interests submitted by the ministers listed above can be found in the ANAF’s special Register on split VAT.

Tudose Government approved in August, despite the unanimous objections of the business environment, the decision on split VAT payments. The measure is optional as of October 1st and mandatory as of January 1, 2018

Several days after the approval of the split VAT, Finance Minister Ionut Misa told Ziarul Financiar that “thousands of companies have announced that they apply VAT as of October 1st.”

The same publication recently finds that, despite the optimistic estimate of the Finance Minister, only 175 companies registered for the optional system.

Mergeți în homepage ›

Publicat la data de 16.10.2017

Lăsați un comentariu


Romania and Juncker Plan: EUR 720 million attracted, of which 35% by Transgaz for BRUA

(The map of investment financed through Juncker Plan, by GDP share. Darker colours mean higher shares) The operator of national natural gas pipelines, Transgaz (TGN)… Mai mult

Top 3 reasons why young people leave Romania

Lack of trust in authorities, corruption and low living standards are the main reasons why young people leave Romania. The data is part of a… Mai mult

IMM Invest Romania – program implementing rules have been published

The Ministry of Public Finance announces that it has issued the methodological norms for the implementation of the Program for supporting small and medium-sized enterprises… Mai mult

Pollution import and car park expansion: comparisons with the other EU states

Romania is the EU country with the fewest cars in terms of the number of inhabitants, according to data recently published by Eurostat. We appear… Mai mult

Government is trying to save budget deficit: reductions in public administration system, cancellation of bonus for harmful conditions, excise duty on soft drinks

The Government is preparing the public for the first measures aimed at avoiding the budget slippage, which would be applied by the PSD-ALDE government. News… Mai mult

Laura Codruta Kovesi remains alone in the race for European Chief Prosecutor

French Prosecutor Jean-Francois Bohnert will be appointed as head of the European Financial Prosecutor's Office, a position for which he was heard on Thursday, 11… Mai mult

Romania - EU country with highest risk of dying in a road accident, Bulgaria is quickly decreasing number of victims since it built motorways

Romania recorded the highest road deaths in the EU also last year, with 96 deaths per one million inhabitants in 2018, almost double the EU… Mai mult

Latest developments in progress at Health Ministry: Differentiated wages based on performance, competitions organised at a regional level not by hospitals

Sorina Pintea announced on Thursday further new changes that will be brought to the functioning of the health care system, including new rules for employment… Mai mult

ANAF changes selection procedure for liquidators. Main changes

The new order on approval and selection procedures for insolvency practitioners is an important step to a very good direction, industry experts say. ANAF is… Mai mult

Romania loses competition for a seat at UN Security Council. MAE Excuse: Campaign started too late

Romania lost to Estonia in the final vote to get the non-permanent member position within the UN Security Council for the period 2020-2021. On Friday,… Mai mult

Business internationalization / eMAG makes a step to entry five new international markets and targets a business of EUR 2 billion

eMAG hopes to get the opinion of the Hungarian Competition Council over the next two months for the acquisition of Extreme Digital, the market leader… Mai mult

"At a distance from books": 85,000 teachers (one third of educational staff) are graduates of distance learning

Approximately 85,000 teachers are graduates of distance learning (ID) programs, Education Minister Ecaterina Andronescu said at a meeting with school inspectors from Caras-Severin County. The… Mai mult