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Tax Newsflash

Welcome to KPMG in Romania Tax Newsflashes' page.

According to a memo dated 20 March 2013, the reduced VAT rate of 9% is applicable for deliveries of aerial or contact medical lenses and their accessories.

Cyprus bailout deal – tax implications

Traditionally, Romanian entrepreneurs have used Cyprus as a location for holding, financing and intellectual property asset management activities.

ECJ: Cosmetic surgery can be VAT exempt

On 21 March 2013, the ECJ issued its decision in case C-92/12 PFC Clinic.

ECJ: Tax authorities may not refuse VAT registration

On 14 March 2013, the ECJ issued its decision in case C-527/11 Ablessio SIA with respect to situations in which the tax authorities of Member States refuse to assign a VAT identification number to taxable persons.

VAT – reverse charge on cereals

In October 2012, Romania asked to be authorised to continue to apply the reverse charge mechanism in relation to certain cereals and oilseeds.

More severe penalties for tax evasion

The new Law has significantly increased the penalties for offences related to tax evasion.

Changes to the Norms to the Fiscal Code

Extensive amendments have been made to the Norms, as a result of the amendments to the Fiscal Code made by Government Ordinance no. 8 of 23 January 2013.

Declaration of Additional Taxes Recently Imposed For the Energy Sector

The Order to amend Order 1950/2012 has been published in In the Official Journal of Romania (no. 111/2013).

Taxation of foreign companies in Romania

The European Commission has issued a reasoned opinion for Romania in relation to amending the discriminatory tax treatment of foreign companies. Details are set out in a European Commission press release (MEMO/13/122, dated 21 February 2013).

Constitutional Court decision on the “clawback” tax

The Court has decided that the law provision according to which the value of drugs sales (calculation element for the “clawback” tax) also includes Value Added Tax is non-constitutional.

Corporate income tax advance payments in 2013 – consumer price index published

Ministry of Public Finance Order no. 224 / 18 February 2013 (“the Order”) has been published in the Official Journal of Romania (no. 106 / 22 February 2013).

Increase in excise duties for cigarettes

Following Government Decision no. 50 on rates for specific excise duties expressed in EUR per 1000 cigarettes, as from 1 April 2013 the rate will rise from EUR 53.18 per 1000 cigarettes to EUR 56.71 per 1000 cigarettes.

Extra Taxation of Companies In The Energy-Sector

Three ordinances which relate to extra taxation of companies in the Energy sector.

Amendments to fiscal legislation

Ordinance on amendments to the Fiscal Code has been published in the Official Journal of Romania (no. 54/2013).

Changes to tax forms 200 and 260 related to personal income tax

The Order amends Order no. 52/2012 which approves the model and content of the forms listed in Title III of the Fiscal Code

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KPMG International Cooperative (“KPMG International”) is a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.

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Tax Newsflash