According to the new customs code, customs regimes will be reorganized under a new structure, thus Romania will have to correlate the Tax Code stipulations with the new regimes of the EU Customs Code. At the same time, the new definition of exporter in the customs legislation will have to be correlated with the VAT legislation.
The new EU customs code also brings a modernization of the IT infrastructure, allowing easier electronic access, without using paper forms, PwC representative said.
“The new legislative package is currently based on approximately 1,000 pages, and will also include a high number of orders of the tax authority ANAF that will be issued in the upcoming period. Thus, we have proposed the setup of a work group between the business sector representatives and the representatives of the Romanian customs authority,” said Daniel Anghel, head of Indirect Tax, PwC Central and Eastern Europe.
PwC consultants emphasized the need to coordinate the transfer prices legislation with customs value legislation, given that the Romanian laws allow Romanian taxpayers carrying out intra-group transactions to ask the tax authorities for advance pricing agreements.