Tax Flash No. 4/2020 – Additional fiscal measures in the Covid-19 context
Emergency Ordinance 33/2020 regarding certain fiscal measures and the amendment of certain normative acts was published in the Official Gazette 260/2020
- Taxpayers that pay the corporate income tax related to the first quarter of 2020 until April 25, 2020, benefit from 10% bonus (in case of small and medium taxpayers) and 5% bonus (in case of large taxpayers).
The same principle also applies for taxpayers with a modified fiscal year.
- The bonus is recorded separately within the annual corporate income tax return.
- Taxpayers that pay the microenterprise income tax related to the first quarter of 2020 until April 25, 2020, benefit from 10% bonus.
- During the entire state of emergency and 30 days after its termination, VAT is not required to be paid in customs on imports of medicines, protective equipment and other medical devices and equipment and sanitary materials used in Covid-19 control.
The VAT related to these imports realized during the fiscal period is recorded by the importers in the VAT return, both as collected tax and as deductible tax.
The Romanian version of this newsletter is available here.
