Indirect Tax Newsflash

Welcome to KPMG in Romania Indirect Tax Newsflashes' page.

European Commission announced the rules on the VAT treatment of vouchers throughout the EU.

Agreement between the European Union and the United States on mutual recognition of Authorized Operators

European Union and the United States signed an agreement for mutual recognition of Authorized Operators.

Council’s Decision regarding the limitation of the VAT deduction right for vehicles

The Decision authorising Romania to limit to 50 % the right to deduct the VAT on the purchase was published in the Official Journal of the European Union no. 117 from 1 May 2012.

The level of specific excise duties for cigarettes starting 1st of July 2012

As of the 1st of July 2012 such specific excise duties will change from EUR 51.49 per 1000 cigarettes to EUR 53.18 per 1000 cigarettes.

Amendments to the form and content of the Value Added Tax Return (Form 300)

Amendments to the requirements for reporting of deliveries/supplies and acquisitions performed in Romania

Commission Regulation (EU) No 1006/2011 amending Annex I to Council Regulation (EEC) No 2658/87 on the tariff and statistical nomenclature and on the Common Customs Tariff

Commission Regulation on the tariff and statistical nomenclature and on the Common Customs Tariff

ECJ Decision in case GFKL Financial Services AG –The sale of defaulted debts represents a supply of services outside the scope of VAT

Today, 27 October 2011, the judgment of the European Court of Justice (”ECJ”) was issued in case C-93/10 GFKL Financial Services AG.

Changes to legislation on VAT and on authorization for trading in raw tobacco and/or partially processed tobacco

Order no. 3194 for approving the model and content of Form 307, Statement on the amounts resulting from VAT adjustment when the beneficiary of the assets transferred.

Advocate General’s opinion in case C-93/10 GFKL Financial Services AG – The sale of defaulted debts represents a taxable supply of services

Thus, considering the AG’s opinion, the sale of a defaulted debts portfolio represents a supply of services for consideration and an economic activity.

Changes to the VAT exemption for some operations

Order no. 2230/2011 to amend the instructions for applying the VAT exemptions set out in art. 143, 144 of the Romanian Fiscal Code has been published in the Official Journal of Romania.

Change in specific excise duties for cigarettes from 1 July 2011

The draft version of the Government Decision (published on the official web site of the Ministry of Finance) on specific excise duties for cigarettes from 1 July 2011, has changed the level to EUR 51.49 per 1000 cigarettes.

ECJ Decision regarding the assessment of the taxable amount for transactions carried out between affiliated parties

On 9 June 2011, a decision was issued by the European Court of Justice (“ECJ”) in the case of Campsa Estaciones de Servicio SA (hereinafter “Campsa”). This decision details the computation method of the VAT taxable amount.

Changes to the procedure for appealing against fiscal administrative documents

Order of the President of the National Fiscal Administration Agency no. 2137/25.05.2011 on the approval of instructions for applying title IX of the Fiscal Procedure Code has been published in the Official Journal of Romania (31 May 2011).

Changes to the VAT law

Order of the Ministry of Public Finance no. 1984/11.05.2011 has been published in the Official Journal of Romania (no. 361/24.05.2011). The Order sets out the criteria for registering taxpayers subject to Trade Registry registration.

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