- Romania has implemented Article 3(2)(d) of Directive (EU) 2017/1371 by publishing Law No. 125/2023, which introduces a criminal offense punishable by imprisonment of 7 to 15 years and the prohibition of certain rights for fraudulent actions or inactions that reduce Union budget resources by at least EUR 10 million through VAT-related schemes.
- The offense includes the use of false, incorrect, or incomplete declarations or documents, non-disclosure of VAT information, and submitting correct VAT declarations to fraudulently mask non-payment or improper rights to VAT refunds.
- The law came into effect on 25 May 2023.
Source Orbitax
