Amendments to the Tax Code

In the Official Gazette of Romania, Part I, no. 906 of 12th December 2014, the Government Emergency Ordinance no. 80/2014 on the amendments and additions to the Law no. 571/2003 on the Tax Code and other regulatory documents, was published.

The main amendments:

The income tax

The taxpayers for whom the determination of the annual income is performed in real system have the obligation to fill in, as of 1st January 2015, the tax registry, in view to establish the annual net income. The model and the contents of this registry will be approved through the order of the Ministry of Public Finance.
The taxpayers who perform activities for which the net income is determined based on income norms, have the obligation to fill in only the part referring to the incomes from the tax registry and they do not have obligations regarding the accounts.
For the determination of the net income from the rights of intelectual property, the taxpayers can fill in only the part referring to the incomes from the tax registry or can fulfill the statement obligations directly based on the documents issued by the income payer.

The Value-added tax

The exchange of currency (from lei to euro) in which special VAT statements will be drafted and in which the VAT amount owed will be paid in Member States of consumption by taxable persons who will apply special regimes for electronic services, of telecommjnication, of broadcasting or television broadcasting, performed by non-taxable persons, as of 1st January 2015.

Establishing the provisions, according to which, in the context of applying the special regime for electronic services, of telecommunication, broadcasting and television broadcasting performed by non-taxable persons, as of 1st January 2015, if Romania is a Member State of registration, from the amounts transferred to each member state of consumption, a rate will be withheld, according to the Regulation (EU) no. 904/2010 of the Council of 7th October 2010 on the administrative cooperation and against the fraud in the field of VAT (reformation);

Given that, currently, only the new established taxpayers and those registered by option as VAT payers, subsequently to the tax registration, are subject to the checking of registration criteria which are established through the order of the Ministry of Public Finance, through the new regulatory document, alsno another category of taxpayers is established, which are subject to this obligation, respectively all the taxable persons to whom the registration was cancelled due to VAT reasons by the tax bodies and which request the re-registration due to VAT reasons.

It is mentioned that, through the order of the president of ANAF (National Agency for Fiscal Administration), certain criteria will be established for conditioning the registration due to VAT reasons of the companies with headquarters in Romania, established pursuant to the Law of companies no. 31/1990, which are subject to the registration in the trade register. The competent tax bodies establish, based on these criteria, whether the taxable person justifies the intention and has the capacity to perform economic activity, in order to be registered due to VAT reasons.

Excises and other special taxes

As of 1st January 2015, the level of excise will be expressed in lei as measure unit, using the level of lei practiced in 2014. As of 2016, the level obtained is updated annually with the increase of consumption prices, from the last 12 months, calculated in September, the year previous to that of the application, communicated officially by the National Institute of Statistics util 15th October.

The regulatory document will be postponed with one year, respectively until 31st December 2015, the deadline until when the legislation currently in force will be applied for the taxation of the oil and gas resources.

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