Fiscal Procedure Code

Taxation Services
No. 18 / 22 May 2006

Fiscal Procedure Code

Amendments have been introduced on advance tax rulings, reporting requirements and fiscal control.

The main provisions refer to:

- Advance tax rulings and advance pricing agreements

Advance tax rulings and advance pricing agreements:
- are to be approved by Government decision;
- shall be notified only to the concerned taxpayer.

Reporting to fiscal authorities

- Taxpayers shall provide certain information on their activity (procedures and clarifications will be issued in this respect by the National Agency for Fiscal Administration) to the fiscal authorities;
- Failure to comply with such provisions will be sanctioned as a contravention.

Fiscal control

- A new method of fiscal control has been introduced: the audit of taxpayer’s electronic accounting system;
- Notification of the cross audit to the taxpayer is no longer required.

(Law 166/2006 published in the Official Gazette 436/19 May 2006)

For additional information, please contact:
Venkatesh Srinivasan - Partner - Head of Tax Department