Tax Flash No. 4/2018

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Emergency Ordinance no.25/2018 for the amendment and completion of certain normative acts, as well as for the approval of fiscal-budgetary measures was published in Official Gazette 291/2018

Fiscal Code

CORPORATE INCOME TAX

  • Taxpayers that grant sponsorship are required to submit an informative statement regarding the beneficiaries of the sponsorship.
  • Taxpayers who benefit from the tax exemption of profits reinvested in certain assets will not lose the exemption right upon removing the respective assets from patrimony as a result of legal obligations.

MICROENTERPRISE INCOME TAX

  • Microenterprises that have subscribed a share capital of at least RON 45,000 and have at least 2 full-time employees may opt, a single time, to apply the corporate income tax regime starting the quarter in which these conditions are cumulatively met, the option being final.
  • Microenterprises that grant sponsorship have the right to deduct from the microenterprises income tax the related amounts up to 20% of the due tax.
  • Microenterprises that grant sponsorship are required to submit an informative statement regarding the beneficiaries of the sponsorship.

VAT

  • The operations performed within the research and development projects whose results are not transferred to another person, are outside the VAT scope. The VAT deduction right related to the acquisitions made for these projects is exercised in accordance with the regulations in force.

EXCISES

  • The level of excise duty for diesel oil used as fuel for the carriage of goods and for the transport of persons is reduced under certain conditions. The lower level was set by diminishing the standard rate of excise duty for diesel oil by RON 183.62/1,000 liters, respectively by RON 217.31/ton.
  • For the issuance of the fiscal warehouse authorization the taxpayer must not register any overdue tax obligations to the general consolidated budget.

Fiscal Procedure Code

  • In the case of debtors that do not own property, the payment rescheduling request concerning tax obligations may be accompanied by a draft rescheduling graph and the request shall be solved within 15 days from the date of its submission without a preliminary agreement regarding the rescheduling of the payment.
  • Amendments are made to the conditions under which a debtor is considered to be of low fiscal risk for the purpose of granting payment rescheduling.
  • For taxpayers benefiting of rescheduling payments, the VAT reimbursement is performed with a subsequent tax inspection for the VAT returns with negative amount with refund option.

Order no.888/2018 for the approval of the model, content, and filing in instructions of form (212) ” Single Statement concerning the income tax and social contributions due by individuals” was published in Official Gazette 279/2018

The model and content of form 212 “Single Statement concerning the income tax and social contributions due by individuals” has been published.

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