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Changes by Romania Tax Advisory All countries require taxes to enable them carry on their projects and operations. Taxes bring about development in a country There should therefore be tax systems which work fairly for all. This is enhanced by a tax advisory. Tax advisories make laws regarding payment of tax. The Romania tax advisory is one of those bodies set to govern and regulate tax allocation. They make necessary changes from time to time to ensure that nobody escapes tax. They also make sure that people are not over or under taxed. Some of the changes they made include reduction of the late tax payment penalties. There used to be very high penalties charged before. People were not considered when setting these initial penalties. The very high penalties also made some people to avoid registering as tax payers. Making the penalties considerable reduced cases of people filing wrong returns due to fear of failing to beat the deadline. Tax agents were also provided to provide services to people for free. People do not have to go to other intermediaries who charge them highly. There is also a platform whereby people can ask questions and provide suggestions. There was thus clarity therefore no conflict between tax payers and tax collectors. Tax payers also have their issues addressed in time.
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Erroneous declarations were also given a different penalty. This is to ensure that people make correct declarations. Incorrect declarations are fined heavily. This system also takes into account those who do not make declarations.
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Procedures followed during tax inspection are also changed. This ensures that the process is efficient. There has been development in the systems to ensure that the process is effective. This makes sure that the correct taxes are paid. There is a clear procedure on making appeals as well. This ensures justice in case of wrong accusations. Some products were also exempted from tax. This ensures that these products are available. Most of the products are basic necessities that people cannot do without. Reinvested profits are also allowed exemptions. This encourages development of more projects and investments which will ensure employment for all. Amendments to the tax policies are normally made by the tax advisory. This makes sure that the tax system of the country is efficient. The tax principles are also made to match international standards. The advisory can therefore compare the tax performance of the country to that of other countries. It also encourages investors into the country. Countries should make it an aim to have efficient tax systems. This will guarantee it collection of enough tax required for its development. It is possible to attain the Romania tax authority’s implementations from the internet. They can be downloaded and used as a guiding principle by other nations. Every government should have an effective tax advisory.