Almost one billion euros have been taken out from Romania in the past five years, the amount which could have been used to implement many projects, said on Friday Ionut Misa, general director of the Directorate general for the administration of large taxpayers of ANAF, referring to the transfer pricing.
„In five companies only, from oil industry, retail, tobacco and electronic trade, adjustments were made for 87 million lei. This is the case of only five companies, think about what that means at national level.
The Directorate general for the administration of large taxpayers now has 1,500 companies in its portfolio.
The amounts are large, very large. A research conducted in early 2015 on a portfolio of 2,500 companies led us to the conclusion that almost 1 billion euros have been withdrawn from Romania over the last five years.
There could be implemented very many projects in Romania with these amounts and they could bring major benefits for Romanians,” said Misa.
According to him, a tobacco company purchased tobacco at a very high price from another affiliate subsidiary based in a EU member country and sold it in Romania at an extremely low profit margin.
„In Romania, they paid almost nothing and all the profits went to the other country. We managed to identify such transactions and make adjustments of 12.3 million lei,” said the ANAF official.
He explained, in this context, how money made by retailers are taken out of the country.
„In retail, they import value-added products from abroad and sell them in Romania. Companies say that they have created many jobs, ‘thanks to you have so many new jobs’, but forget to clarify a very important aspect.
These jobs are poorly paid.
We should look at the fact that these companies import goods from abroad at a low price, then sell them in Romania, and the corporate tax is applied only on the difference.
In Romania, little money remains.
Basically, jobs in the countries that have produced those goods are well paid, they have added value in that country and less in Romania. That is one of the most frequently used methods,” said Misa, quoted by Agerpres.
He also said that there are companies that have a global network and import various goods and services from other countries at a very high value and sell them in Romania.
„There are companies in the automotive industry that have a 2% profit rate every year. It is very difficult to obtain a constant profit rate. There is an economic cyclicality, a global business environment. To get 2% every year you need very good advice; they benefit from a very good expertise in this area, have very good techniques that they use,” explained the head of the Directorate for large taxpayers.
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