The MPs on June 30 passed in two readings a bill that simplifies the financial reporting process by launching a common reporting platform for the State Tax Service, the National House of Social Insurance and the National Health Insurance Company, IPN reports.

Currently, the companies that have employees are obliged to present five different reports on salaries, related taxes and aspects of labor relations. A series of data are doubled and the business entities have to interact with three different authorities, the reports being presented in different periods.

Therefore, it was decided that the five reports will be substituted by one report, called FSIC16. The companies will not present distinct reports to the State Tax Service, the National House of Social Insurance and the National Health Insurance Company. They will submit one report a month, until the date of 25 of each month, to the State Tax Service.

It is estimated that the introduction of a unified report will cut the volume of presented data by about 40%. The amendments also envision the elimination of the employment record book and of the obligation for companies to present the personnel units to the State Labor Inspectorate.