Further amendments to the tax law

Monitorul Oficial al Romaniei No 48 / 22 January 2013 has published Government Resolution No 20 / 16 January 2013 amending and supplementing the Methodological Norms for the application of Title  VII on Excise Duty and Other Special Taxes of Law No 571 / 2003, regarding the Tax Code, approved under Government Resolution No 44 / 2004.

The major, newly approached, aspects refer to the following:

– requirements for the authorisation and functioning of tax warehouses where excisable products are stored under duty suspension arrangements (i.e. minimum share capital, the level of guarantees, etc.);

– conditions for exemption from excise duty in the case of ship refuelling, and specific mentions regarding the storage of alcoholic beverages;

– requirements for exemption from duty payment for ethylic alcohol and other alcoholic products under specific conditions.

These provisions come into force on the date of their publication in Monitorul Oficial, excepting the amendments related to the exemption from payment of excise duty, under certain conditions, in the case of ethylic alcohol and other alcoholic products, which become effective as of 1 March 2013.

Monitorul Oficial No 45 / 21 January 2013 has published Order No 24 / 12 January 2013 of the President of the National Tax Administration Agency amending Order No 52 / 2012 of the same President, approving the model and content of Forms provided under Title III of Law No 571 / 2003, regarding the Tax Code.

The Order amends Form 200 containing Declaration on the income obtained from Romania, as well as the instructions for filling in and submitting the Form which also includes a new section for the declaration of the mandatory social contributions as part of deductible expenses related to the income achieved since 1 January 2012.

The Order also approves the new Form 260 containing Tax Decision on advance payments representing income tax / health insurance contributions, as well as on payment obligations representing social security contributions and the annexes thereto, which shall be used for the establishment of the aforesaid payments starting 1 January 2013.

TAX ALERT by Mazars Consulting / MAZARS ROMANIA

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* 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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