Romanian Government Planning New Measures In 2019

The Romanian government has released new plans to change legislation in several areas, including drastically higher fines and penalties for tax evasion and off-the-books work, changing insolvency procedures and construction laws, new investment objectives as well as financial compensation for citizens who served prison time in improper conditions, according to The government’s Annual Plan for 2019 says that the Finance Ministry would introduce a legislative project to prevent and combat tax evasion, which would significantly increase penalties for evasion and working off the books. The Executive will establish the list of state companies to be part of the Sovereign Fund for Development and Investments, as well as the National Bank for Romania’s Development, changing insolvency procedures and regulating alternative investment funds. The plan also includes a change in the law regarding mandatory auto civil liability insurance. Read more