Tax Flash No. 6/2012
Government Emergency Ordinance 2/2012 amending and supplementing the Company Law 31/1990 was published in Official Gazette 143/2012
- The Ordinance provides simplification measures regarding procedural aspects of national and crossborder mergers and spin-offs in which companies take part.
With the Ordinance being enforced, for reorganisations of such nature, reporting obligations towards shareholders and associates and other information formalities are simplified. Among these, the Ordinance provides the option to announce the merger/spin-off project via the web page of the companies involved instead of publishing it in the Official Gazette and also introduces simplified procedures for mergers by absorption when the absorbing entity holds at least 90% shares within the absorbed companies and for spin-offs when the participants in the initial legal entity benefit from an unchanged distribution of shares in the successor legal entities.
Order of NAFA President 208/2012 approving procedures applicable to economic operators trading excise goods was published in Official Gazette 145/2012
- The Order approves the procedure for the revocation/cancellation of the final user authorisation obtained by economic operators that acquire excisable energy products in order to be used for other purposes than motor fuel or heating fuel, dual use or mineralogical processes.
- The Order introduces as well the procedure for suspending the authorisation obtained by the authorised warehouse keeper, the registered consignee or the registered consignor when noncompliance with the legal obligations concerning excise payment is assessed or tax liabilities outstanding for more than 30 days from the legal term are registered.
- Moreover, the Order approves the procedure for execution of the guarantees set by economic operators holding a final user authorisation that acquire certain energy products in order to be used for other purposes than motor fuel or heating fuel, dual use or mineralogical processes.