The Official Gazette of Romania, part I, no. 621 of the 29th of August 2012 has published the Government Ordinance no. 15/2012 amending and supplementing Law no. 571/2003 regarding the Fiscal Code.
The main changes are:
Under the new regulation, legal persons acquiring companiy properties which ceases to exist after the merger or division will be able to recover their tax losses.
Thus, fiscal loss recorded for taxpayers who cease to exist as a result of a merger or division are recovered by taxpayers or newly created by those who take corporate assets absorbed or divided, as appropriate, proportional to the assets and liabilities transferred to the persons legal beneficiary, according to the draft merger / division. Fiscal loss recorded for taxpayers who do not cease to exist as a result of an operation of detachment of part of their heritage, transferred as a whole from these taxpayers and those who take part transferring company assets, as appropriate, proportional to the assets and liabilities transferred to legal persons benefiting, according to splitting the project, according to the legal entity maintained by the transferor.
For the income resulted from activities conducted under employment / civil agreements concluded under the Civil Code provided by taxpayers carrying out economic activities independently or as professionals and are registered tax payers under the laws in legal matters or other entities that are required to lead evidence accounting no longer have the obligation to calculate, withhold and transfer tax withholding representing prepayment of income paid.
The legal document also introduces the mention that taxpayers, wether legal persons or other entities that are required to run accounting are not required to compute, withhold and remit the tax at source from the prepaid income, representing payments made to:
– Associations without legal personality and legal persons conducting single entry accounting and income tax payment is made by each member for his or her own income;
– Individuals, for the payment of income derived by individuals from disposal of property using goods business.
The introduced mention regarding the rental place, except for short-term rental of a taxable transportation of a person to where the customer is established, has his permanent address or usually resides. By rental lease we understand the inclusion of leasing services for transportation. By short term we understand the owning or continuous usage of the means of transportation for a period of 30 days and in the case of vessels over a period of 90 days.
The introduction of the payment system that reffers to the collecting of VAT upon the invoice cashing or VAT chargeability occurs on full or partial cashing or delivery of goods or the provision of services to taxpayers domiciled economic activity in Romania, whose turnover in calendar year previous ceiling does not exceed 2,250,000 RON(500,000 euros).
Any taxable person applying VAT collection system starting on January 1, 2013, is required to submit to the tax authorities, until October 25, 2012 including a notification showing that turnover between October 1, 2011 – September 30, 2012 including ceiling does not exceed £ 2,250,000.
If taxpayers required to apply VAT collection system did not collect the full or partial delivery of goods or the provision of services within 90 calendar days from the invoice date, calculated in accordance with the provisions of Code of Civil Procedure, the liability for the unpaid tax on the value comes in the 90-calendar day from date of invoice. In case the invoice has been issued within the period provided by law, the liability for unpaid tax on the value comes in the 90-calendar day deadline required by law to issue invoice, calculated in accordance with the Civil Procedure Code .
The right to deduct VAT on purchases made by a taxable person to a taxable person applying VAT collection system is delayed until the fee for goods and services that have been delivered / performed has been paid / supplier or .
Taxable persons who are required to apply VAT system collection system does not apply to operations such as:
– In case of supply of goods / services which are exempt from VAT;
– For the operations subject to special rules contained in Art. 1521-1523;
– In case of supply of goods / provision of services for which payment is received, partially or totally, with cash by the taxpayer eligible to apply VAT collection system at corporate users, individuals registered for VAT purposes, authorized individuals , free professionals and associations without legal personality;
– In case of supply of goods / provision of services for which the beneficiary is an affiliated person / supplier.
Compulsory social contributions
Introduces regulations on the people who work in Romania and derive income from wages as non-resident employers who do not have their registered office or representative in Romania and due to mandatory social contributions for their employees, according to international legal instruments to which Romania is a party. These individuals are required to submit the payment obligations of social contributions, income tax and nominal record of insured persons (D112) and pay social contributions of the employer and the individual only if there is an agreement to that effect with the employer.
>> The source: JURIDICE.ro