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Changes and additions to the Fiscal Procedure Code

Changes and additions to the Fiscal Procedure Code: The Official Gazette of Romania, part I, no. 71/30.01.2012 published the Government Ordinance no. 2/2012 to change and complete the Government Ordinance no. 92/2003 concerning the Fiscal Procedure Code. On January the 30th 2012, the Romanian Government changed and completed by the Ordinance no. 2/2012 the provisions of the Government Ordinance no. 92/2003 concerning the Fiscal Procedure Code. The most significant changes to the Fiscal Procedure Code are the following:  the price in advance agreement and the individual fiscal anticipated solution; the transaction file; the transfer prices file; the  amiable procedure in the case of conventions of avoiding/removing the double taxation of the transfer prices; the procedure of removing the double taxation between the Romanian  affiliated persons; the administrative cooperation in the field of fiscal between the State members; the parties liability; the fiscal residence; raising the seizure on bank account. * * * The efficiency of the registration procedure of head office: The Official Gazette of Romania, part I, no. 99 dated the 8th of February 2012 was published Order of president of the National Agency for Fiscal Administration no. 108/2012 for changing the Order no. 2.112/2010 on approving the procedure of request and release of the certificate for the space as a head office, on registration of the document attesting the right to use the space as a head office and on approving the model and the content of certain forms. The procedure regulates aspects such as: law concerned topics; the trade register office attributions; the competence and the attributions of the fiscal body; the deadline for issuing documents. * * * The procedure of fusion and division of the companies simplifies: On Tuesday, the 28th of February 2012, the Government approved and Emergency Ordinance which changes the Law 31/1990 concerning the companies. The regulatory takes on a series of European directives for which Romania is in risk of infringement procedure, providing simplified procedures related to the environment in which the companies operate. So, are reduced, under certain conditions, the reporting obligations to shareholders and associates and the advertising formalities related to the establishment and the change of the articles of incorporation and it is proposed the use of its own internet page of the company, instead of advertising by the Official Gazette. * * * The possibility of establishing on a conventional way the date for a fusion/division: Related to the provisions of the article 249 of the Law no. 31/1990 concerning the companies, an operation of fusion and division produces specific effects: in the case of establishing one or more new companies, starting with the date of registration in the trade register of the new company or of the last of them; in other cases, starting with the date of the decision registration of the last general meeting which approved the operation, except the case where, by agreement of the parties, it is stipulated that the operation will have an effect on another date, which cannot be following the end of the current financial of the acquiring company or of the recipient companies, nor any previous end of the concluded financial exercise of the company or companies which transfer their patrimony. In the same time, according to the article 148 paragraph 2 of the Minister of Justice Order no. 2594/C/2008 (approving the methodological rules concerning the way of keeping the trade registers, of recording and of releasing the information) where the will of the parties is that the fusion division to produce effects at a later adoption of the general meeting decision date of the associates/shareholders of the involved companies, the decision of the competent court will be mentioned in the trade register, and the fusion/division will be registered on the date set by the parties to produce its effects. * * * Procedures for performing the fiscal supervision of the taxable products: The Official Gazette of Romania, part I, no. 138 dated the 29th of February 2012 published the Order of president of the National Agency for Fiscal Administration no. 207/2012 concerning the approval of the ways and procedures to implement the fiscal supervision of the production, storage, circulation and import of the taxable products. The Order approves the ways and procedures to implement the fiscal supervision of the production, storage, circulation and import of the taxable products, which completes with the applicable procedures system to the fiscal inspection for the custom control thereafter.

Andreea Roxana TUDOROIU

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