The year 2019 was the year of Ordinance 114, because of which we saw a deficit of 3.57 per cent in November last year and which will also impact 2020, Mihaela Mitroi, Partner within the Tax and Law Department of EY Romania said."The year 2019 was the year of Ordinance 114. You know this very well. Unfortunately, this is an ordinance that generated certain events in the fiscal and economic fields in Romania, and because of which we saw the deficit climbing to 3.57 per cent last year, a much higher level than established in the Stability and Growth Plan, that is the deficit imposed by them. However, we hope that we will be able to recover, slowly, from this situation. Anyway, Ordinance 114 will make an impact on 2020 too," said Mihaela Mitroi, at the 14th edition of the EY's Romania Annual Tax Conference.
She said a series of directives appeared in the EU to be implemented in Romania as well, mentioning the EU Whistleblower Directive, "a nice term for denunciators."
"We are talking about an European Directive to be transposed in Romania by 2021 or, with certain derogations, by 2023. These persons, the whistleblowers, are basically us, all of us. For any of us: employees, persons who are not necessarily employees, but hold information about EU norms being violated, and not just related to tax matters," said Mihaela Mitroi.
The EY official explained aspects related to the environment, consumer protection or public procurement can be reported. Romania needs to create a series of procedures in the next interval and reporting conditions for these persons.