Info Tax 2012

A new system for declaring and paying profit tax: annual system with quarterly prepayments
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Info Tax no. 26, December 2012 Since when Starting with fiscal year 2013 the fiscal law opens the possibility for profit tax payers to opt for the annual profit tax declaration and payment system with quarterly prepayments. What does it mean The taxpayers who use the optional annual system for declaration and payment of the profit tax , owe quarterly …

December 21st, 2012: the new deadline for declaring and paying tax liabilities due on December 25th, 2012
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Info Tax no. 25, December 2012 We bring to your attention the date of December 21st, 2012 as being the new deadline for declaring and paying the tax liabilities normally due on December 25th, 2012. By means of the Emergency Government Ordinance no. 84/13.12.2012, published in the Official Gazette no. 845/13.12.2012, the Government brought amendments to the Fiscal procedure code, establishing …

Amendment of Informative return regarding the taxes withheld and paid on income subject to withholding tax / exempted income and registration of non-resident legal entities in Romania
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Info Tax no. 24, December 2012 With a view to declaring the income obtained from Romania by non-residents starting January 1st, 2012, either legal or natural persons, the payers of income use a new model of standard form for the Informative return regarding the taxes withheld and paid on income subject to withholding tax/exempt income. We hereby remind you that …

Extension of the limitation of VAT deduction right on the acquisition of road vehicles
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At present, the VAT deduction right on the acquisition of road vehicles, as defined in art. 1451 of the Fiscal code, and of related fuel, is limited to 50%. By acquisition it is to be understood the local purchase, import or intra-community acquisition of road vehicles. The Council of the European Union has approved, following the request of the Romanian …

Aspects regarding individuals’ fiscal residency in Romania
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Following the modifications brought by Emergency Ordinance no. 30/2011 as regards the assessment of the fiscal residency, the Ministry of Public Finances released Order no. 74/2012, published in the Official Gazette no. 73/30.01.2012 (the Order), regarding criteria for assessment of individuals’ fiscal residency and the related documentation. 1. Assessment of fiscal residency for non-resident individuals who come to Romania Non-resident …