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deRainfall October 29, 2008

Changes in the Fiscal Code in 2009

According to the Ministry of Economy and Finance, beginning with 2009 the Fiscal Code will suffer several changes:

VAT

The persons that are not registered for VAT purpose (especially the natural persons) and who buy new intra community means of transport will not be obliged to pay VAT in Romania for these acquisitions before the enrolling of the new means of transport, those enrolling in Romania not being possible without this proof.

Until now, VAT was paid till the 25th of the month following the intra community acquisition and the proof of the payment was not requested at the enrolling.

Excices

The legal entities that commercialize, in retail, system energetic power products for which excises should be paid, for example all types of fuels, are obliged to be registered at the Territorial Fiscal Authority.

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According to the Ministry of Economy and Finance, beginning with 2009 the Fiscal Code will suffer several changes:

VAT

The persons that are not registered for VAT purpose (especially the natural persons) and who buy new intra community means of transport will not be obliged to pay VAT in Romania for these acquisitions before the enrolling of the new means of transport, those enrolling in Romania not being possible without this proof.

Until now, VAT was paid till the 25th of the month following the intra community acquisition and the proof of the payment was not requested at the enrolling.

Excices

The legal entities that commercialize, in retail, system energetic power products for which excises should be paid, for example all types of fuels, are obliged to be registered at the Territorial Fiscal Authority.

According to the Ministry of Economy and Finance, beginning with 2009 the Fiscal Code will suffer several changes:

VAT

The persons that are not registered for VAT purpose (especially the natural persons) and who buy new intra community means of transport will not be obliged to pay VAT in Romania for these acquisitions before the enrolling of the new means of transport, those enrolling in Romania not being possible without this proof.

Until now, VAT was paid till the 25th of the month following the intra community acquisition and the proof of the payment was not requested at the enrolling.

Excices

The legal entities that commercialize, in retail, system energetic power products for which excises should be paid, for example all types of fuels, are obliged to be registered at the Territorial Fiscal Authority.

This decision was taken for the monitoring of the commercialization activities regarding power products from the producer and importer up to the final consumer.

Local taxes

  1. The legal changes refer to the fact that the extra judicial stamp taxes will represent an income at the local budgets, after the deduction of the value related to the expenses made with the distribution of the fiscal stamps.
  2. Also, according to the new legal changes the period of 5 months will be extended to 6 months for the reduction with 50% of the tax on the buildings and on the land for the legal entities that provide tourism services.

Voluntary health insurance

The deductibility limit for voluntary health insurances will increase from 200 Euro to 250 Euro, as a measure for investments stimulation in the human capital.

Contributions at the optional pensions’ system

In order to apply the 3rd Level of Private Pensions, new measures have been adopted. These ones point out the increase of the deductibility limit of the contributions at the optional pensions system proceeded from the salaries income, from 200 Euro up to 400 Euro as well as the deduction of the expenses, by the employer, on employees’ behalf, at 400 Euro.