This version of the website is currently under construction.

deRenata Ban March 19, 2020

Deferral of taxes and duties

The current context, triggered by the COVID19 epidemic, is already creating numerous difficulties and challenges for companies, with a new economic crisis on the horizon. The bill on the amendment of certain provisions of the Tax Code to change the payment deadlines for a series of substandard taxes in the next period was presented to the Chamber of Deputies yesterday.

Therefore, the taxes and duties in the bill are:

  • income tax for fiscal year 2019 and first quarter 2020;

  • income tax on micro-enterprises for the first quarter of 2020;

  • payroll taxes and salaries between February and April 2020;

  • Social health contributions related to wages received in the period February-April 2020;

    Read article

The current context, triggered by the COVID19 epidemic, is already creating numerous difficulties and challenges for companies, with a new economic crisis on the horizon. The bill on the amendment of certain provisions of the Tax Code to change the payment deadlines for a series of substandard taxes in the next period was presented to the Chamber of Deputies yesterday.

Therefore, the taxes and duties in the bill are:

  • income tax for fiscal year 2019 and first quarter 2020;

  • income tax on micro-enterprises for the first quarter of 2020;

  • payroll taxes and salaries between February and April 2020;

  • Social health contributions related to wages received in the period February-April 2020;

    The current context, triggered by the COVID19 epidemic, is already creating numerous difficulties and challenges for companies, with a new economic crisis on the horizon. The bill on the amendment of certain provisions of the Tax Code to change the payment deadlines for a series of substandard taxes in the next period was presented to the Chamber of Deputies yesterday.

    Therefore, the taxes and duties in the bill are:

    • income tax for fiscal year 2019 and first quarter 2020;

    • income tax on micro-enterprises for the first quarter of 2020;

    • payroll taxes and salaries between February and April 2020;

    • Social health contributions related to wages received in the period February-April 2020;

    • the contribution to employment insurance related to wage income achieved in the period February-April 2020;

    • VAT from February to April 2020;

    for Romanian legal entities operating in the areas most affected by the new changes. The CAEN codes to which these provisions apply are:

    4520

    4743

    4762

    4782

    5320

    5629

    7311

    8559

    9512

    4532

    4751

    4764

    4789

    5510

    5630

    7490

    8690

    9529

    4540

    4752

    4765

    4799

    5520

    5911

    7911

    9002

    9601

    4619

    4753

    4771

    4932

    5530

    6820

    7912

    9003

    9602

    4719

    4754

    4772

    4939

    5590

    6831

    8121

    9311

    9604

    4741

    4759

    4778

    4941

    5610

    7021

    8230

    9313

     

    4742

    4761

    4779

    5229

    5621

    7022

    8299

    9329

     

    If such a law project is adopted, the payment deadline shall be extended until 25th of July 2020 or until a later date determined by the Government’s decision.

    Local taxes: Land tax, the tax on means of transport is paid with the subsidy set by the City Council if it is paid in full by 30th of June 2020.

    The conditions under which a legal person may benefit from these facilities are as at 31st of December 2019 cumulatively fulfilled:

    • had one of the activities listed above in the instruments of incorporation and income arising from those activities during 2019;
    • not in liquidation.

    The proposed measures may be a breath of fresh air for the companies affected by the crisis, but for the moment we are only talking about a law project. We’ll keep you informed of its evolution.