FinMin Misa: The essence of amendments aims at rules against tax avoidance practices of multinational companies

The essence of the ordinance amending the Tax Code is represented by the transposition of the European Directive No. 2016/1164 on laying down rules against tax avoidance practices of the multinational companies," Finance Minister Ionut Misa stated. 

"Another measure, we say a beneficial one, even though in the media not everybody agrees with us and we can understand why they don't agree with this measure, because it refers to the transposition of the Directive 1164 [a European Directive] for laying down rules rules against tax avoidance practices that directly affect the functioning of the internal market. (...) Certainly that the measure is contested because it wishes to limit the deducibility of interest rates between multinational companies of Romania and mother-companies outside the country, because this measure wants to prevent the transfer of profits from Romania to other countries, because this measure wants to increase profit in Romania and implicitly the revenue tax paid by these companies in Romania. Therefore, it's obviously an extremely beneficial measure for the Romanian economic environment, the state budget and implicitly for the citizens who will benefit from the growth of the amounts allocated and collected to the state budget by several hospitals, highways, much more benefits in their favour," the Finance Minister explained during the Gov't sitting. 

Misa stated that, in the media, this measure is "neglected," adding that, in his view, "it is the essence of this ordinance." 

Misa added that he was "the first" to initiate controls in the banking system conducted by the National Agency for Fiscal Administration (ANAF) at the "big taxpayers." AGERPRES .