Romanian Prime Minister Emil Boc announced the launch of an electronic system to automatically settle Value Added Tax (VAT) rebates.
Announcing the launch of the system on July 8, Boc said:
“The government has put in place a computerized mechanism to reimburse VAT. The system will not only eliminate delays but also aid the fight against fraudulent claims."
Romanian Finance Minister Gheorghe Pogea added that all outstanding VAT rebates would generally be settled within 60 days, and in the event of complications no later than 90 days. He announced that during July the government would rebate some RON1.07bn (USD330m) to taxpayers.
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