Info Tax 2010

Avoidance of VAT payment in customs
Citeste varianta in limba romana

Info Tax no. 14, September 2010 Romania has decided not to make use for the moment of the option mentioned under art. 211 of Directive 2006/112/EC which rules that member states may decide that VAT due upon importation of goods from non-EU territories and states need not be paid at the time of importation. Consequently, VAT due for the import …

Changes in the Fiscal code
Citeste varianta in limba romana

Info Tax no. 13, June 2010 Emergency Government Ordinance no. 58/2010 for the modification of the Fiscal code was published in Official Gazette no. 431 of 28 June 2010. The Ordinance comes into force on 1 July 2010, introducing radical changes to the Romanian tax system. 1. Standard VAT rate The standard VAT rate increase to 24% (previously, 19%). 2. Dependent …

The register of intra-community trade operators
Citeste varianta in limba romana

Info Tax no. 12, June 2010 Emergency Government Ordinance no. 54/2010 regarding anti-avoidance measures was published in Official Gazette no. 421 of 23 June 2010. 1. The Register of intra-community trade operators The Ordinance introduces the Register of intra-community trade operators which is set up and functions starting 1 August 2010 within A.N.A.F. The Register shall cover records regarding all taxable …

Transfer pricing applicable to transactions between Romanian affiliated persons?
Citeste varianta in limba romana

Info Tax no. 11, May 2010 Bay way of introduction, transfer pricing concerns anti-abuse rules, aimed at punishing the attempt to transfer profits to jurisdictions other than that where the taxable base arises, allowing taxing authorities to reconsider the income and cost of affiliated parties involved in a transaction so to reflect the actual profits, corresponding to the market price of …

Deduction of VAT relating to investments in immovable properties destined for letting
Citeste varianta in limba romana

Info Tax no. 10, May 2010 This issue brings into the attention of the reader practical items as to what concerns the improvement of the capacity to recover VAT during the investment period, for investments in immovable properties destined for letting to third parties, in a context where the authorities’ weak capability to refund VAT keeps, for over two years, the …

VAT on advisory services contracted out in connection with transactions with shares – Part I
Citeste varianta in limba romana

Info Tax no. 9, March 2010 It should be noted, to begin with, that a company whose activities are subject to VAT is entitled to deduct the tax where there is a direct and immediate link between the goods and services utilized, on one hand, and, on the other hand, the activities performed in respect of which a right of deduction …

VAT on sale of deteriorated buildings
Citeste varianta in limba romana

Info Tax no. 8, March 2010 By this issue we mean to bring into your attention two mistakes frequently made in transactions with deteriorated buildings in those cases where, at the moment of the transaction, the parties know that the existing buildings are going to be demolished so that the purchaser may then construct new buildings on the land that had …