Tax Flash No. 8/2014
Emergency Ordinance 19/2014 regarding the amendment and completion of Law no. 571/2003 regarding the Fiscal Code, was published in the Official Gazette 308/2014
- The Emergency Ordinance amends the Fiscal Code’s provisions regarding the profits tax exemption on profits reinvested in the production and/or acquisition of technological equipment used utilised for performing economic activities
- In view of applying this incentive, for the period 1 July – 31 December 2014, the accounting profit recorded starting 1 July 2014 and invested in such assets should be considered
- Taxpayers benefiting from this incentive are required to maintain such assets in their patrimony for a period equal to half of their economic useful life, but no longer than 5 years
- The profits tax exemption is applicable in relation to technological equipment produced and/or acquired after 1 July 2014 and commissioned by 31 December 2016
