Submission of tax return on the income achieved abroad

The tax return, Form 201, on the income achieved abroad in 2011 shall be submitted until 25 May 2012 by Romanian natural residents having their domicile in Romania and by foreign natural entities meeting in the reporting year the conditions provided under Art. 40 (2) of the Tax Code for the taxation of overall income.

Falling under this category are also the expatriates performing dependent activities in Romania that, in 2011, had the centre of their vital interests in Romania or were present in Romania for one or several periods longer than 183 days throughout twelve (12) months completed in 2011.

The abovementioned natural entities who are deemed residents of a State with which Romania has concluded the Convention for the Avoidance of Double Taxation may benefit from the provisions thereof.

We hereby recommend that you should observe the deadline for the submission of the above-referenced tax return in order to avoid payment of fines and penalties for late payment.

TAX ALERT by Mazars Consulting / MAZARS ROMANIA

* Note: You may find Romanian, German and French versions of the newsletter in Mazars’ archive

* TAX ALERT contains a selection of the latest major issues occurred in the Romanian legislative framework, is intended only to provide information and, hence, shall not be deemed to provide professional advice or consultancy.  Therefore, we assume no responsibility in this respect.

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