ECONOMY FINANCE&BANKING

Chief tax officer Stan: 68.64bn lei collected, 3.9bn lei worth of VAT refunding

The National Agency for Fiscal Administration (ANAF) this April collected by 1.17 billion lei more than one year ago, up 107 percent, while the increase January through April 2017 was 102.7 percent, ANAF Chairman Bogdan Stan said Wednesday at the end of a meeting with Prime Minister Sorin Grindeanu.

“Another topic of discussion was the collection of the Government’s revenue. I can tell you that this April we collected by 1.170 billion lei more than in 2016, which is a 107-percent increase, while in the first four months combined the increase is 102.7 percent. ANAF collected 68.64 billion lei. As far as the refundable Value-Added Tax (VAT) is concerned, because there are some media accounts, I want to say that in the first four months, ANAF refunded 3.9 billion lei worth of VAT, compared with 5.1 billion lei refunded in 2016,” added Stan.

He went on to say that one of the reasons for the 1.2-billion-leu difference is the result of smaller VAT refund applications filed by the taxpayers.

“The difference of 1.2 billion lei comes from smaller VAT refund applications of the reduced VAT level; you may very well know that in December 2015 that level was 24 percent, down to 20 percent in December 2016, while starting in 2017 it was 19 percent. Another reason is the operation of taxpaying groups. There are 114 such groups and the refundable VAT they may qualify for and that can be requested upon reimbursement is offset by the collected VAT,” said Stan.

Data released by ANAF early this May show that the tax authority collected 68.45 billion lei in the first four months of 2017, up 2.71 y-o-y.

The collected revenue was by 1.81 billion lei higher than in the first four months of 2016 (66.64 billion lei), which is a 2.7-percent increase in the volume of government revenue collected, according to a press statement by ANAF.

In April 2017, ANAF collected 18.03 billion lei in such revenue, which was 7 percent higher than in April 2016, up 1.18 billion lei.

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