The amendments refer to the income tax, the value added tax and the excise duties. This Ordinance also refers to the time limit for the submission of the tax statements related to November 2014.
1. Income Tax
Among the amendments relating to this chapter we mention the following aspects:
- The annual net income obtained from independent activities shall be determined based on the accounting records;
- The taxpayers for which the annual income is determined based on the bookkeeping system are required to complete the Tax Register;
- The option to determine the annual net income, based on the bookkeeping system, will consider accounting records;
- The net income from the grant of the use of goods may be determined based on the bookkeeping system;
- Income from agricultural activities, forestry and fishery shall be determined based on the accounting records.
In terms of value added tax, amendments aimed at:
- Special regime regarding the electronic, telecommunications and broadcasting services provided to the non-taxable persons established in the European Union;
- The VAT registration of the taxable persons who have the place of business in Romania -applicable from 1 February 2015;
- The cancellation of the VAT registration - applicable from 1 February 2015;
- Simplification measures for the supply of electricity to a taxable dealer, established in Romania.
3. Excise Duties
The provisions relating to excise duties refer to changes and additions in terms of:
- The level of the harmonized excise duty;
- The calculation of the excise duties on cigarettes;
- The authorization conditions regarding the tax warehouse;
- The obligations of the authorized warehouse;
- The level of tax on crude oil from domestic production;
- Annexes of Title VII "Excise and other special charges";
- Setting the exchange rate for calculating the excise duty in 2015.
The Law no. 95 / 2006 regarding the healthcare reform modifies, from EUR to RON, the amount of contributions payable by legal entities that are producing, importing, performing intra-community acquisitions of tobacco products and alcoholic beverages or are performing advertising activities regarding these products. Also, the law modifies the way in which these contributions should be paid.
The provisions of this Ordinance shall apply from 1 January 2015, except for the provisions relating to the VAT registration and the cancellation of the VAT registration, which will apply from 1 February 2015.
The Ordinance deferred until 31 December 2015, the deadlines specified in the Government Ordinance no. 7 / 2013 regarding the tax on additional revenues obtained due to the deregulation of prices in the natural gas sector, the Government Ordinance no. 6 / 2013 regarding the special measures for the taxation of exploitation of natural resources other than natural gas, approved with amendments by Law no. 261 / 2013 and the Government Ordinance no. 5 / 2013 regarding the special measures for the taxation of the natural monopoly activities in the electricity and natural gas sector.
According to this Ordinance the deadline for the submission of the tax statements and the payment of the taxes related to November is the 22th of December 2014.