New threshold for VAT small enterprise exemption: RON 300,000 - November 21, 2018

• The threshold for applying the small enterprise exemption regime for VAT has been extended from RON 220,000 to RON 300,000.

VAT rate reduced to 5% for supply of restaurant and catering services since 1 November 2018 - October 30, 2018

• Starting with 1 November 2018 the VAT rate applicable to catering and restaurant services is reduced to 5%. The 5% rate will not apply to supply of goods which are not part of a catering/restaurant service.

Interim (quarterly) dividends distribution allowed in Romania starting July 2018 - July 1, 2018

• Starting with July 2018, companies are allowed to distribute dividends from the profits of the current fiscal year on a quarterly basis. Companies must submit a intermediary financial statements for each quarter in which such distribution of dividends in made.

New individual tax reporting – income from independent activities - June 15, 2018

• The unified return for individuals earning gains from an independent activity must be submitted until the 15^th of July 2018. The return for 2018 includes two sections: the revenues obtained in the previous year and the estimated revenue for 2018.

New amendments to the Fiscal Code published on 6 December 2016 - December 8, 2016 Download PDF

New corporate tax on specific activities (e.g. food industry, hotels, bars) - October 17, 2016 Download PDF

Reduced VAT rate on agriculture - July 29, 2016 Download PDF

Second set of amendments to the Fiscal Code in force in 2016 - July 7, 2016 Download PDF

First set of amendments to the Fiscal Code in force as of 1 January 2016 - January 7, 2016 Download PDF

Decizia Curții de Justiție a Uniunii Europene în cauza C-438/13 privind tratamentul TVA al bunurilor ce au făcut obiectul unui contract de leasing financiar și nu au fost nerecuperate de la utilizatori la reziliere - November 21, 2014 Download PDF

•  Cauza C–438/13 BCR Leasing IFN SA împotriva Agenției Naționale de Administrare Fiscală

Revised OECD Transfer Pricing Guidelines regarding safe harbours - May 22, 2013 Download PDF

• OECD approved, on 16 May 2013, the revised Transfer Pricing Guidelines regarding safe harbours.

   

  The new rules replace Section E on safe harbours in Chapter IV of the Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations, published in July 2010.

   

  The new recommendations for the implementation of safe harbours are meant to lower both the costs of compliance for small taxpayers and/or less complex transactions, as well as the costs incurred by tax administration for auditing such transactions.

VAT on insurance premiums recharged by leasing companies – ECJ Decision 17 January 2013 - April 23, 2013 Download PDF

•  ECJ Decision on Case 224/11 BGŻ Leasing sp. z o.o. against Dyrektor Izby Skarbowej w Warszawie