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New amendments of the fiscal Code

The Government Emergency Ordinance no. 24/2012 amending and supplementing Law no. 571/2003 (regarding regulation of the taxatioan and fiscal measures) was published in the Official Gazette, Part I, no. 384 dated the 7th of June 2012. The most important novelty is the increase of the society’s amount of money needed in order to register for tax return. Therefore the former amount of 35.000 EUR has been replaced with 65.000 EUR, the new one. The changed provisions will take effect starting the 1st of July 2012. These changes include issues such as taxation of the gains earned with the occasion of securities transfer (other than shares and securities for closed companies). The annual net income/ net annual loss (caused by the transfer of securities, other than shares and securities for closed companies) will be determined as the difference between gains and losses recorded during the year.

>> The source: JURIDICE.ro

Diana STOICA

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