Tax Flash No. 17/2012

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Order 1118/2012 amending and supplementing the Accounting regulations approved by Order 3055/2009 was published in Official Gazette 603/2012

The Order specifically provides for booking of the accounting depreciation of receivables assigned at the taking-over date for the part estimated to be unrecoverable. Thus, the Order creates the accounting framework for the proper application of the new provisions mentioned under art. 22 (1) letter m) of the Fiscal code.

The Order also introduces provisions in relation to the accounting treatment of the green certificates, applicable starting with the financial statements prepared for 2012 financial exercise.

Order 1045/2012 for the approval of the template, content, submission and administration of “Statement regarding the social contributions and income tax liabilities and the nominal records of the insured individuals” was published in Official Gazette 600/2012

The present Order approves the template, content and the filling in instructions of Form 112 – Statement regarding the social contributions and income tax liabilities and the nominal records of the insured individuals (“Form 112”) used for the reporting of the income tax and social contributions due as from 1 July 2012 (having as reporting deadline 25 August 2012).

The Order updates the „Tax receivables” nomenclature, by introducing/eliminating or changing the name of certain fiscal receivables, in line with the new amendments brought to the Fiscal code, applicable as from 1 July 2012.

The main legislative amendments applicable as from 1 July 2012 which have led to the update of Form 112 refer to the obligation of payers of income to declare the social security contributions due by the individuals realizing certain category of revenues, out of which we hereby mention:

  • revenues from intellectual property rights;
  • revenues from activities performed based on civil contracts / conventions concluded as per the Civil Code, as well as based on agency contracts;
  • revenues from accounting, technical, judicial and extrajudicial expertises activities;
  • revenues from an association with a taxpayer legal person, according to Title IV1 of the Fiscal Code, which does not generate a legal person;
  • revenues from the associations without legal personality provided by art. 13 letter e) of the Fiscal Code;
  • revenues from agricultural activities according to art. 71, letter d) of the Fiscal Code.

Order 1180/2012 amending and completing Order 2101/2010 for the approval of the Procedure for the organization and functioning of the Registry of Intra-community Operators, as well as the template and the content of certain forms was published in Official Gazette 587/2012

  • The obligation for submitting the certificate of findings issued by the Trade Registry Office was introduced;
  • The Registry of Intra-community Operators Application shall be solved concomitant with the application for VAT registration purposes. Previously, such term was set at 10 calendar days from the filling date of the Application to the competent fiscal authority.

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