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Romanian Cos’ VAT To Be Reimbursed 3 Times/Month, 80% Payments Directed To Old Debts

The sums owed by the Romanian state to companies as value-added tax reimbursements will be paid three times a month, on 4th, 24th and 29th of the month, while 80% of the payments will be made to companies subject to the highest delays, Finance Minister Gheorghe Pogea said Wednesday.
Romanian Cos' VAT To Be Reimbursed 3 Times/Month, 80% Payments Directed To Old Debts
08 iul. 2009, 15:27, English

The minister said the reimbursement system would be computerized and permanently monitored.
 
The latest data of the National Fiscal Administration Agency ANAF show that the value of delayed VAT reimbursement to taxpayers rose 10.2% in May, at 1.937 billion lei (EUR1=RON4.2170), from RON1.757 billion a month earlier, while the percentage of payments delayed over one year rose to 6%.
 
ANAF announced Monday it would set up a deadline of maximum 45 days for carrying out the checkups related to VAT reimbursement, which might extend to 90 days in "justified cases".