Tax Flash No. 12/2012

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Emergency Ordinance 24/2012 amending and completing the Fiscal Code and establishing certain fiscal-financial measures was published in Official Gazette 384/2012

We hereby mention the main amendments and completions:



  • According to the Emergency Ordinance, 50% of the expenses (except for depreciation expenses) related to certain types of vehicles (having maximum capacity of 3,500 kg and maximum 9 seats) which are not exclusively used for business purposes are non-deductible. Such expenses are fully deductible in case the vehicles fall within the categories expressly mentioned by the law (e.g. vehicles used as goods for commercial purposes, etc.).
  • The above-mentioned threshold is also applicable in case of expenses with operation, maintenance and repairs related to vehicles used by persons having management and administrative positions within the limit of a single vehicle per each individual holding such position.
  • The provisions/adjustments for the depreciation of receivables taken over from credit institutions for debt recovery purposes are considered deductible under certain conditions.


  • As regards freelancers, similar amendments to those mentioned above under the “Corporate income tax” section regarding the 50% deductibility threshold for expenses related to vehicles were introduced.
  • Starting 1 January 2013, the quarterly computation, reporting and payment obligations regarding the net gain/loss from the transfer of securities, other than shares and securities in closed entities will be eliminated.


  • Starting 1 January 2013, Chapter V “Information exchange regarding direct taxes” will be repealed.


  • The application area of the limitation to 50% of the VAT deduction right has been extended on rental and leasing operations of motorised road vehicles, as well as of the expenses related to such vehicles. This limitation of the VAT deduction right is not applicable if the respective vehicles are used exclusively for business purposes by the taxpayer.
  • The exemption threshold for small businesses has been increased from EUR 35,000 to EUR 65,000, respectively from RON 119,000 to RON 220,000 (computed using the NBR exchange rate valid at the date of Romania’s EU accession). Also, transitory provisions regarding the application of the threshold for the year 2012 were introduced.


  • Certain provisions were introduced with respect to the liability to mark and colour the black oil and their equivalent energy products from the perspective of excise duties for the release for consumption, holding outside of a fiscal warehouse, transportation including under an excise duties suspension regime, use or sale on the Romanian territory (with certain exceptions provided under the law). These provisions shall apply starting 1 August 2012.
  • Non-compliance with the above provisions regarding the use or distribution of such products may trigger sanctions.

The amendments brought to the Fiscal Code are applicable starting 1 July 2012, with the exceptions mentioned above.


  • In case of taxpayers benefiting from state aids under the form of subsidies, the fiscal liabilities related to the fiscal period to which the subsidy refers to shall be settled with priority.


  • The fiscal liabilities whose payment depends on the granting or maintaining of an authorization, agreement or other similar administrative act, as well as any type of fines which represent incomes to the state budget are excluded from the category of fiscal liabilities that cannot benefit from rescheduling.

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