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RLWeek December 6-12, 2021: Approval of VAT collecting procedures from due taxpayers applying for the special schemes in the Tax Code. New VAT rate for wood supply. Standard for the application of ESMA Guidelines on advertising. Amendment of the FSA Regulation on issuers of financial instruments and market operations

Approval of VAT collecting procedures from due taxpayers applying for the special schemes in the Tax Code| Draft. On Wednesday, the 8th of December 2021, The National Agency for Fiscal Administration has launched in public debate the Draft order for approving the procedures for collecting budgetary claims for VAT owed by taxpayers applying the special schemes provided for in Article 314, Article 315 and Article 315^2 of Law No 227/2015 on the tax Code, as subsequently amended and supplemented.[source]

New VAT rate for wood supply. On Thursday, the 9th of December 2021, Law No. 286/2021 was published to supplement paragraph 3 of Article 291 of Law No 227/2015 on the Tax Code and Law No 287/2021, supplementing Article 291(3) of Law No 227/2015 on the Tax Code, in The Official Journal of Romania, Part I, No 1168. Two new categories of goods and services are thus introduced for which the reduced 5% VAT rate applies to the tax base:

    • the supply of firewood to natural persons, in the form of trunks, barrels, any branch or similar forms;
    • supplies of firewood, in the form of trunks, barrels, vagaries, branches or similar forms, to legal persons or other entities, irrespective of the legal form of their organization, including schools, hospitals, medical dispensations and social assistance units.[source]

Standard for the application of ESMA Guidelines on advertising| Draft. On Thursday, the 9th of December 2021, The Financial Supervisory Authority has launched the Draft Rule for the application of the ESMA Guidelines on advertising communications under Regulation (EU) 2019/1156 of the European Parliament and of the Council of 20 June 2019 on facilitating the cross-border distribution of collective investment undertakings and amending Regulations (EU) No 648/2012 Regulation (EU) No 346/2013/2013, Regulation (EU) No 1286, and Regulation (EU) No 2014/345.[source]

Amendment of the FSA Regulation on issuers of financial instruments and market operations | Draft. On Friday, the 10th of December 2021, the Financial Supervisory Authority launched in public debate the Draft Regulation for an amendment to Financial Supervisory Authority Regulation No 5/2018 on issuers of financial instruments and market operations, as subsequently amended and supplemented.[source]

Flaviana-Daniela Crâznic

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