Tax Flash No. 11/2015

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Emergency Ordinance 44/2015 regarding the granting of certain tax incentives was published in Official Gazette 785/2015

Liabilities outstanding as of 30 September 2015, settled by 31 March 2016

  • Taxpayers who have outstanding liabilities towards the state budget as of 30 September 2015 will benefit from the annulment of the related late payment penalties and of 54.2% of the related interest, if they cumulatively meet the following conditions:
    • all main obligations overdue as of 30 September 2015 are settled by 31 March 2016;
    • 45.8% of the interest related to liabilities set through decisions communicated until the date when the main obligations are paid, are settled by 30 June 2016;
    • 45.8% of the interest owed until the date of settlement of the main liabilities and set through decisions communicated after this date, are paid within the terms provided by the Fiscal Procedure Code;
    • the application for the annulment of accessories is submitted by 30 June 2016;
    • all main obligations with payment terms between 1 October 2015 and 31 March 2016, are settled by the date the application for the cancellation of accessories is submitted;
    • the taxpayer has submitted all tax returns to the tax authority by the date when the application for the cancellation of accessories is submitted.

Liabilities set through rectifying statements

  • The late payment penalties and 54.2% of the interest related to additional liabilities declared through rectifying statements which correct main liabilities payable before 30 September 2015, shall be cancelled under similar conditions as above if the rectifying statements are submitted by 31 March 2016 and all the payment obligations declared through them are paid by 31 March 2016. The provisions are also applicable in the case of the correction of errors in the VAT returns.

Liabilities outstanding as of 30 September 2015, settled by this date

  • The late payment penalties and 54.2% of the interest related to main liabilities whose payment terms are before 30 September 2015 and which are paid by this date shall be cancelled if the following conditions are cumulatively met:
    • the late payment penalties and interest are owed and not paid as of 30 September 2015;
    • 45.8% of the interest related to obligations payable before 30 September 2015 and settled by this date, is paid until 31 March 2016;
    • the application for the annulment of accessories is submitted by 30 June 2016.

Liabilities established further to on-going tax inspections

  • The late payment penalties and 54.2% of the interest related to main obligations with payment terms before 30 September 2015, established further to an on-going tax audit as of the date of the enforcement of the Ordinance, are cancelled if:
    • all additional main liabilities and 45.8% of related interest are paid within the terms provided by the Fiscal Procedure Code; and
    • the application for the annulment of accessories is submitted within 90 days after the tax decision was communicated.

Other provisions

  • Taxpayers benefiting of tax rescheduling as of 30 September 2015 are eligible for the annulment of penalties and 54.2% of the related interest provided that the conditions stipulated by the Emergency Ordinance are met. Such taxpayers may still benefit from the tax rescheduling.
  • The above provisions apply to the receivables administrated by NAFA. Local councils may apply similar rules in the case of liabilities owed to the local budgets. In such case, a 73.3% share of the late payment obligations due to the local budget are cancelled.
  • Obligations for which payment facilities are being applied as of 30 September 2015 and obligations established through administrative acts which are suspended according to the law as of 30 September 2015, are not considered outstanding payment obligations as of 30 September 2015 within the meaning of the Emergency Ordinance.
  • Within 30 days from the entry into force of the Emergency Ordinance, the procedure for its implementation shall be adopted.

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