Romania: Official Gazette published law criminalizing cross-border VAT fraud
Law No. 125/2023, published in the Romanian Official Gazette, implements criminal sanctions for cross-border VAT fraud in accordance with EU Council Directive 2017/1371. This law encompasses the following key measures:
- Imposition of criminal penalties, including imprisonment, for instances of cross-border VAT fraud that result in a minimum loss of 10 million euros (US$10.6 million).
- Specification of fraudulent actions that fall under the purview of the newly established provisions.
Effective as of May 25, this law aims to strengthen the legal framework and deter cross-border VAT fraud by imposing severe penalties for substantial fraudulent activities
Source: legislatie.just.ro
