Tax Flash No. 29/2012
Order 1708/2012 amending and completing several Minister of Finance Orders was published in Official Gazette 852/2012
The postponing of the VAT payment in customs for imports of goods performed by the taxpayers having obtained a VAT deferment certificate shall be extended until 31 December 2016, inclusively.
Also, clarifications are brought with respect to the following aspects related to VAT exemptions provided by art. 144, paragraph (1) of the Fiscal Code:
- the term placement in a free zone/free warehouse of Community/non-Community goods;
- the operations involving goods placed in a free zone/free warehouse for which VAT exemption applies;
- the justifying documents for the application of the VAT exemption to operations performed in connection with goods placed in a free zone/free warehouse.
The aforementioned provisions enter into force on 1 January 2013.
The main amendments/completions brought are the following:
- the restrictions concerning the exclusive storage of energy products and cigarettes in fiscal warehouses were canceled;
- the excise payment deadline applicable to registered consignees is the 25th of the month following the month when the excises become chargeable;
- the minimum level of excise duty on diesel fuel was increased to 391 EUR/ton, respectively 330.395 EUR/1,000 litters;
- the fiscal warehouse authorisation is valid for 3 years, for all types of taxpayers;
- the fiscal warehouses destined exclusively for the storage of excisable products shall be subject to a condition regarding the volume of deliveries;
- the guarantee applicable to the newly set up fiscal warehouses used for storage is of 6% of the excises amount related to all the entries of excisable goods estimated on an annual basis.
The above mentioned provisions are applicable starting with 1 January 2013.
The main changes and completions brought refer to the following:
- the accounting treatment applicable to tangible immovable assets or cash received from clients, having as destination the acquisition or construction of tangible immovable assets used for the connection to a network of electricity, gas, water or for the supply of continuous access to certain goods or services;
- the drafting of annual financial statements for the financial year 2012 by the companies whose securities are traded on a regulated market and which have the obligation to apply the IFRSs;
- the accounting treatment and recording of certain specific items at the level of the above mentioned companies (for example, goodwill impairment, depreciation of intangible assets with undetermined useful life, recognition of operations with derivatives, etc).
The Order brings the following main amendments to the template, content and the filling in instructions of Form 205 “Informative statement regarding the withholding tax and the realised gains/losses, per income beneficiaries”:
- the introduction of certain sections concerning the reporting of salaries incomes, incomes from rental of land and incomes obtained from the sale as waste of movable property from business patrimony, according to art. 78, para. (1), letter (f) of the Fiscal Code;
- restructuring of certain categories of revenues subject to withholding tax, further to their reclassification in the light of the amendments brought to the Civil Code.
The Order also brings amendments to the template, content and the filling in instructions of Form 204 ”Annual income statement for the associations without legal personality and the entities subject to fiscal transparency regime”.
The above mentioned forms are used for the declaration of the incomes obtained starting with 1 January 2012.