Emergency Ordinance no. 25/2018 regarding amending certain normative acts, and for approving of fiscal-budgetary measures was published in the Official Gazette no. 291/30.03.2018.
Microenterprises income tax
Microenterprises can choose, only once, to apply for the payment of corporate tax starting the quarter in which these conditions are cumulatively fulfilled, the option being final, if:
– have subscribed a share capital of at least 45,000 lei; and
– have at least 2 employees.
Microenterprises that make sponsorships to support for not for profit entities deduct from the microenterprises income tax up to the value of 20% of the microenterprises tax.
Amounts that are not deducted from the microenterprises tax due, are carried forward in the following quarters for a period of 28 consecutive quarters.
The sponsoring microenterprises have the obligation to submit the informative statement on the sponsorship beneficiaries by January 25 of the following year.
These provisions shall apply from 1 April 2018.
Taxpayers who earn income on the basis of sports contracts owe income tax by applying 10% of gross income which is withheld the tax being final.
Taxpayers who earn salary income, income from intellectual property rights or from independent activities for which the tax is withheld are entitled to grant:
- a) a 2% quota to support of not for profit profit entities and cults, according to the law; or
- b) a 3,5% quota to support of not for profit profit entities and cults, which are social service providers accredited with at least one licensed social service, under the law.
Taxpayers can choose for the calculation, withholding and payment of amounts by the income payers.
For agricultural taxpayers in case of natural calamities, are introduced rules to establish and correct the income tax threshold.
Transactions made under research and development projects do not fall within the scope of VAT if the research results are not transferred to another person, the right to deduct VAT being exercised under the law.
Fiscal Procedure Code
The debtor with low fiscal risk is defined as the debtor who has no facts written in the fiscal record, the administrators or the associates do not have any facts written in the fiscal record, the debtor is not in temporary inactivity, do not have overdue tax obligations older than 12 months, has not recorded operating losses in the last financial year. Legal entities to be framed at low fiscal risk must have been set up for at least 12 months.
Taxpayers benefiting from schedule payments, the VAT requested to reimbursement through negative VAT returns with a refund option is refunded with subsequent tax audit.
The term for administration of tax liabilities due by medium taxpayers by the fiscal body at county or Bucharest level is extended to 1 August 2018.
The provisions of the Ordinance shall enter into force on 1 April 2018, with the exceptions mentioned above.