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Amendment of certain provisions of the Tax Code and on the reschedulement of the tax payment

The Official Gazette of Romania, Part I, no. 772 of the 15th of November 2012 has published Law no. 209/2012 that approves Government Ordinance no. 30/2011, amending and supplementing Law no. 571/2003 on the Fiscal Code and the regulation of fiscal measures.

The law approves GO no. 30/2011 amending and supplementing Law no. 571/2003 regarding the Fiscal Code and Ordinance no. 29/2011 on regulatting the granting of scheduled payments, with some modifications, among which:

1. For the calculation of tax on means of transport, the law differentiates between recorded and registered vehicles, establishing a disting calculation of tax for registereed vehicles (eg. Machinery used in construction, agriculture and so on).

These changes will come into force on the 1st of January 2013.

2. GO no. 30/2011 establishes the possibility of rescheduling the payment of the tax liabilities administrated by NAFA, for a period not exceeding five years, as provided by the ordinance.

The new law introduces an exception regarding the rescheduling period, meaning that scheduling can benefit from tax payment over a period of seven years for taxpayers with higher tax debt than 300 million RON.

3. In case of rescheduling the grand, the normative act extends the applicable exception to the security of public institutions and autonomous administrative authorities.

4. Percentage will change on the additional guarantees: max 32% to max 16% on the rescheduled amounts.

>> The source: JURIDICE.ro

Diana STOICA

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