The Justice Ministry plans to increase the penalties for companies that are caught engaging in tax evasion. According to the proposal, as of July next year the minimum fine for firms caught breaking the law will be increased from €800 to €1,500, while the maximum financial penalty will reach €1.66 million.
Meanwhile, in certain cases, courts will have the right to close companies down completely, while the owners of firms that engage in tax evasion could face prison sentences of up to 12 years and could be banned from engaging in the same line of business in the future. The draft bill has already passed through the stage of ministerial comments and should be approved by the Cabinet in August.
Anca Dragu
