The  present  Ordinance  introduces  a  series  of  amendments  which  mainly  target  the  following  specific aspects:

Amendments and completions regarding the Fiscal Code

    The provisions applicable to the companies subject to corporate income tax and to microenterprises in respect of the  deduction of expenses incurred with sponsorships/ patronage/ private scholarships are amended, in order to be aligned with the provisions of Law no. 322/2021. Such Law introduced the possibility to redirect from the corporate income tax / microenterprise tax the  reported sponsorship/ patronage amounts, within a period of maximum six months starting from the date of submission of the  annual  corporate  income  tax  return,  respectively  the  tax  return  submitted  for  quarter  IV  for microenterprise tax.

    It is provided that the deadline for the annual corporate income tax return submitted by the leader of the fiscal group will be on the 25th   of June of the following year/ the 25th of the sixth month starting from  the  date  the  amended  fiscal  year  is closed,  in  case  at  least  one  member of  the  fiscal  group  is subject to the provisions of G.E.O. no. 153/2020 regarding the establishment of measures to stimulate the maintenance/growth of equity.

    It  is  introduced  the  obligation  at  the  level  of  public  notaries  to  report  transactions  under  the  non-taxable threshold of 450.000 lei resulting from the transfer of proprietorship rights.

Amendments and completions regarding the Fiscal Procedure Code

    The  Ordinance  provides  an  extension  of  the  deadline  for  the  settlement  of  the  request  for  the anticipated individual tax ruling from three (3) to six (6) months and the takeover of the activity related to the issuance of the anticipated individual tax ruling by the Ministry of Public Finances.

    New obligations are introduced at the level of entities performing transactions via on-line platforms to periodically provide information to the fiscal authorities – the nature of the information, its periodicity, as well as the model of the declaration will be approved by means of a NAFA Order.

    The obligation to submit tax returns in case of entities having their activities suspended or which are registered with temporary inactivity before the Trade Register is eliminated. This exemption will cease at  the  date  when  the  activity  is  reinitiated  or,  as  the  case  may  be,  in  three  years  after  the  date  the suspension/ inactivity was registered.

    Debtors under insolvency procedure will be able to benefit from the possibility to request the payment rescheduling,  stipulated  by  the  Fiscal  Procedure  Code,  provided  that  they  are  no  longer  under  the insolvency procedure by the time the decision to reschedule the payment is issued.

Other important amendments

    Legal entities subject to specific tax will be exempted from the payment of tax for the fiscal year 2022, for a period of 180 days (the period will be computed starting from the date when the Ordinance enters into force, respectively February 3rd 2022).

    The  deadline  imposing  the  obligation  of  taxpayers  performing  supplies  of  goods/services  through commercial vending machines to have electronic fiscal cash registers for such equipment is extended until 31st  of December 2022.

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For additional details regarding the above, you can contact any member of the Taxhouse team or you can send us an e-mail at office@taxhouse.ro.