Millionaires awaited at tax inspectorates

Until now over 200 tax payers have submitted to territorial tax inspectorates their statements on funds owned on January 1, 2012. The fiscal authority reminds that, starting next year, indirect estimation of individuals' incomes will be applied. The sums available at the beginning of this year will not be taken into account, if they are declared by December 31, reports Info-Prim Neo. “Indirect estimation of income, according to the Fiscal Code amendments, will be applied starting 2013, but only to the taxable incomes registered by individual in 2012. The statement on the available funds, on the date of January 1, 2012, is necessary for these incomes to avoid taxation, since the law does not have a retroactive character”, specified Gheorghe Cojocaru, deputy chief of the Main State Tax Inspectorate. Subject to the determination of taxable income through indirect methods are individuals, who throughout one fiscal year accumulate assets that cumulatively surpass the sum of 1 million lei (except realty the building of which had begun before January 1, 2012), or who undertake expenses that cumulatively surpass 500,000 lei. In the case that the sum declared is larger than 1 million lei, the individual is obligated to attach paperwork confirming the availability of the declared sum. All of the 200+ taxpayers who submitted statements on their funds, as of January 1, 2012, held their money in banks. Those who have savings in cash should deposit them in banks, by November 1 at the latest, and go to the tax authority with the account balance statements by December 31. “We ask this category of taxpayers to pay attention to the fact that they have only 2 days left to deposit their funds. If the money was loaned, a loan agreement should also be presented. If no agreement was written, a receipt from the lender is also acceptable”, mentioned the MSTI deputy chief. Individuals who did not submit their declaration on available funds for January 1, 2012, will have their sums considered as earned after January 1, 2012. In order to assure the confidentiality of information regarding the statements on available funds, the MSTI signed confidentiality contracts with the employees from territorial branches, who were appointed to accept the taxpayers' submissions. According to MSTI data, 160 persons declared incomes of over 1 million lei for last year.