Government Ordinance no. 15/2012 (published in the official journal on 29 August 2012) sets forth new rules concerning the tax treatment of losses following a reorganization and which parties may claim such losses.
Other changes affect the individual income tax treatment of certain payments of income received with respect to intellectual property rights, from activities performed under civil / agent contracts, from accounting and technical expertise, or from the taxpayer’s association with a legal entity.
The value added tax (VAT) changes generally implement provisions of EC Directive no. CE/45/2010, concerning missing inventory, the long-term hire of transport, VAT cash accounting systems, compliance issues, invoices, and deferral of VAT payments to the customs authorities.
Read a September 2012 report [PDF 1.3 MB], prepared by the KPMG member firm in Romania: Changes to the Fiscal Code
Contributions for medicines, clawback tax
The form to be filed by taxpayers required to make contributions with respect to certain medicines has been approved per Government Ordinance no. 17/2012 (1 September 2012).
Read a September 2012 report [PDF 1.4 MB], prepared by the KPMG member firm in Romania: Order for applying Government Ordinance no. 17/2012 on the “clawback tax”
Government Ordinance no. 16/2012 (28 August 2012) makes changes to the tax procedural rules concerning:
- The date for tax returns filed electronically
- The validity of enforcement titles and other documents issued by the tax authorities by electronic means
- Payment of a taxpayer's liabilities by a third party
- Settlement order for tax liabilities
- Suspending foreclosure procedures
Read an August 2012 report [PDF 1.4 MB], prepared by the KPMG member firm in Romania: Changes to the Fiscal Procedure Code