Amendments to the tax legislation by yearend

The relevant authorities have made several last-minute amendments to the tax legislation.  Such amendments refer mainly to Forms 204 and 205, application of VAT exemptions and excise duty-related aspects.

It is to be seen whether the last days of December bring about other tax surprises

Amendments to the Tax Legislation by Yearend

Monitorul Oficial al Romaniei No 850 / 17 December 2012 has published Order No 1913 / 6 December 2012 of the President of the National Tax Administration Agency amending Order No 52 / 2012 of said President that approved the model and content of Forms provided under Title III of Law No 571 / 2003.

The latest Order amends Form 204 containing the annual income tax return of associations without legal personality and of entities that should be tax-transparent, and Form 205 containing informative returns on withholding tax and the gains achieved / losses incurred by income beneficiaries, as well as the instructions for filling in such Forms.

The new Forms shall be used for the declaration of the income achieved since 1 January 2012.

Monitorul Oficial No 852 / 17 December 2012 has published Order No 1708 / 14 December 2012 of the Minister of Public Finance amending and supplementing some of Finance Minister’s orders.

Thus, the rules according to which the certificate regarding deferred payment of value added tax is granted and the guarantee for imports approved under Finance Minister’s Order No 500 / 2007 is released have been amended.

The Instructions for the application of VAT exemption to the operations specified by Art.143 (1) (a)-(i), Art.143 (2) and Art.1441 of Law No.571 / 2003, regarding the Tax Code, as amended and supplemented under Order No 2222 / 2006 of the Minister of Public Finance, have been updated so as to reflect the changes to the Tax Code relative to invoicing.

The Norms for the application of VAT exemption to international movements of goods provided by Art.144 (1) of Law No.571 / 2003, regarding the Tax Code, as amended and supplemented under Order No 2218 / 2006 of the Minister of Public Finance, have been amended so as to reflect the changes to the Tax Code in respect to invoicing.

These provisions shall be applicable starting 1 January 2013

Monitorul Oficial No 857 / 18 December 2012 has published Government Emergency Ordinance No 87 / 12 December 2012 amending and supplementing Law No 571 / 2003, regarding the Tax Code.

The changes made by this Ordinance refer in the main to:

– keeping excisable products

– premises for which the authorisation for operating an excise warehouse is released

– validity of said authorisation

– payment of excise duties to the State Treasury

– guarantees

– contraventions and penalties for submitting returns with incomplete or unreal data

– amended excise tax on gasoil.

These provisions shall become effective as of 1 January 2013.

The Ordinance also mentions that Law No 571 / 2003, regarding the Tax Code, is to be republished in Monitorul Oficial al Romaniei.

Monitorul Oficial No 856 / 18 December 2012 has published Order No 1951 / 13 December 2012 amending and supplementing Annex No 1 to Order No 1.294 / 2007 of the President of the National Tax Administration Agency, regarding taxes, contributions and other amounts representing tax debts payable by taxpayers to a sole account.

Under the latest Order, Annex No 1 to the aforesaid Order 1294 / 2007, amends, by adding two more entries, numbers 7, 9, 22 and 28 of the Nomenclature of taxes payable to the State Treasury in the sole account 20.47.01.01 representing State Revenues, i.e. amounts collected for the State Treasury in a sole account, which are to be distributed.

These provisions have become applicable since 18 December 2012 (date of publication in Monitorul Oficial).

TAX ALERT by Mazars Consulting / MAZARS ROMANIA

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

* TAX ALERTcontains 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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