Tax Flash no.1/2021 – The amendment and completion of certain normative acts and the extension of certain deadlines

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14.01.2021 – Emergency Ordinance no.226/2020 regarding certain fiscal-budgetary measures and amending and supplementing certain normative acts and extending certain deadlines was published in Official Gazette 1332/2020

Amendments to Law no. 296/2020

The elimination of the 30% ceiling of the amount of receivables for the deductibility of adjustments for impairment of receivables is extended until 1 January 2022.

The increase to EUR 140,000 of the ceiling for the application of the 5% VAT rate to the supply of homes to individuals is postponed until 1 January 2022.

Amendments related to the application of Emergency Ordinance no. 69/2020

The deadline for submitting the application for cancellation of the late payment charges is extended until March 31, 2021 (15 December 2020 previously).

The main budgetary obligations due by the insolvent debtor for which the maturity has expired by 31 March 2020 inclusive are considered, regardless of the existence of a table of receivables or a payment schedule of receivables, outstanding main budgetary obligations.

The payment obligations in respect of which, after 31 March 2021 (15 December 2020 previously) inclusive, the payment facility loses its validity or, as the case may be, the suspension of the execution of the fiscal administrative act ceases are considered outstanding on 31 March 2020 inclusive.

Debtors that have notified the tax authority and submitted the application for cancellation of accessories between 16 December 2020 and 31 December 2020, for which the tax authority has not issued the decision to reject the request for cancellation, may withdraw their application for cancellation of accessories for the purpose of submitting a new request.

Amendments related to the application of Emergency Ordinance no.181/2020

The deadline for submitting the requests for applying the debt payment rescheduling simplified procedure is extended until 31 March 2021.

VAT related anti Covid measures

The supply of medical devices for in vitro diagnosis of COVID-19 vaccines COVID-19 and related testing and vaccination services, other than those exempt under art. 292 Fiscal Code, made until December 31, 2022, are exempt from VAT with the right of deduction.

The deadline until which the VAT requested for reimbursement through the negative VAT returns with the option to reimburse, submitted within the legal deadline, is reimbursed by the central fiscal authority with the tax inspection being performed subsequently, with certain exceptions, is extended until 31th March 2021 (25th January, previously).

Other aspects

Specific income taxpayers do not owe specific tax in 2021 for a period of 90 days starting with January 1, 2021.

The sanctioning of the economic agents for not connecting remotely the fiscal electronic cash registers, in order to transmit fiscal data to the National Agency for Fiscal Administration, is suspended until March 31, 2021.

The method of calculating the income tax and social security contributions due by individuals benefiting from the indemnity granted according to Emergency Ordinance no. 30/2020, establishing that the calculation of income tax and mandatory social contributions is performed separately from the income from conducting their main activity.

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