Fiscal authorities identify over 145,000 inactive companies

The modification of the inactive companies classification will lead to the shutting down of over 145,000 companies in Romania, the Fiscal Administration Agency informs in an open debate on its website. At this moment, there are a few hundreds, maybe a few thousands companies considered as inactive in the entire country. according to the new law draft, companies will be considered as inactive in case they do not meet two consecutive terms in submitting the fiscal statements.

The inactive companies are not allowed to issue invoices, fiscal invoices and other special regime documents. In case they do issue such documents, the papers will not produce juridical or fiscal effects. At the same time, all authorizations, licenses and agreements that allow the company to function are suspended and the VAT registration is annulled.

Most companies to be declared inactive are from Bucharest (over 37,000). In the former Fiscal Procedure Law, a company was declared inactive in case it didn’t submit its financial statements and didn’t pay taxes for 12 consecutive months.