Tax Flash No. 6/2015

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Decision 367/2015 amending and completing the Methodological Norms for the application of Law 571/2003 regarding the Fiscal Code was published in Official Gazette 373/2015

We hereby mention the main amendments and completions:

Corporate Income Tax

  • The list comprising the organization forms for Romanian legal entities, parent companies, is updated with general partnerships and limited partnerships

Income Tax

  • New rules on the procedure for applying the exemption from income tax in case of individuals with severe disabilities obtaining income from independent activities, income from salaries, retirement income and income from agriculture, forestry and fisheries
  • Revenue realized by individuals from tipping collection shall be considered income from other sources

VAT

  • The tip cashed by the taxable persons registered for VAT purposes as per art. 153, which was not given to the employees, will be subject to 24%VAT
  • The total price of half-board, full board and all inclusive accommodation will be subject to the reduced VAT rate of 9%, even if the respective price will include alcoholic beverages
  • The list regarding the NC codes for determining the goods subject to the reduced VAT rate of 9% was introduced, as well as clarifications regarding the cases when the reduced VAT rate for the delivery of such goods will apply on the entire economic chain, from the producer to the final consumer as well as exceptions for certain goods depending on certain specific situations provided
  • The application of 9%VAT rate for certain goods that are specifically mention within the list published is conditioned in case of the import and intracommunity acquisition operations by the presentation of a commitment statement, respectively by a proof revealing the fulfillment of certain conditions for the application of the reduced VAT rate of 9%
  • The lack of proofs sustaining the application of the reduced VAT rate of 9% for the operations involving those specific goods mentioned by the VAT legislation, will trigger the application of the standard VAT rate of 24%, even if 9% VAT will be applied for a subsequent supply
  • The normative acts which define the food supplements subject to the reduced VAT rate of 9% are mentioned
  • Clarifications and examples as regards the VAT rate applicable for the delivery of packages comprising both goods subject to the reduced VAT rate of 9% as well as to the standard one of 24% were brought

Excises

  • The publication of the list of retail prices for cigarettes should be performed with maximum seven days and minimum 25 hours before they enter into force
  • The formula for calculating the excise duty on beer, sparkling wine and cigarettes is adjusted
  • The guarantees constituted by warehouse keepers of excisable products are modified

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