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5-10% DISCOUNT FOR COMPANIES THAT PAY INCOME / PROFIT TAXES ON TIME

According to a Government Ordinance (GEO 33) published this evening (30.03.2020) in the Official Gazette, companies will be able to benefit from discounts if they pay their taxes on time.

Thus, taxpayers paying corporate income tax, regardless of the tax return system, who pay their tax due for the first quarter of 2020, respectively for the prepayment for the same quarter, until April 25, 2020 inclusively, benefit from a 5% or 10% discount, calculated on the income tax due. Microenterprises also benefit from this facility, respectively a 10% discount.

We present below the article: 

"Art. 1. - (1) Taxpayers paying tax on profit, irrespective of the system of declaration and payment provided by article 41 of Law no. 227/2015 on The fiscal code, with the subsequent amendments and completions, that pay the tax due for the first quarter of 2020, respectively for the advance payment for the same quarter, up to the deadline of April 25, 2020 inclusively, benefit from a calculated discount on corporate income tax due, as follows:

a) 5% for large taxpayers established according to the Order of the President of the National Agency for Fiscal Administration no. 3609/2016 regarding the organization of the activity of administration of the big taxpayers;

b) 10% for the medium taxpayers established according to the Order of the President of the National Agency for Fiscal Administration no.3610 / 20 16 regarding the organization of the activity of administration of the medium taxpayers, with the subsequent modifications;

c) 10% for the other taxpayers who do not fit in the letter. a) and b).

(4) For the payment of the tax on the income of the micro-enterprise for the first quarter of the year 2020, until April 25, 2020 inclusively, the taxpayers benefit from a 10% discount calculated on the tax due for that quarter. "

So, the taxpayers determine the tax on profit / tax on the income of micro-enterprises, to be paid, by deducting the tax due from the allowance, calculated according to the approved normative act.

For the profit tax payers, the bonus calculated according to the Emergency Ordinance no. 33, is distinctly included in the annual declaration of profit tax, explains the Ministry of Finance.

Other provisions of the same ordinance provide:

  • The effective payment of VAT is not made to the customs authorities during the period of emergency and in the next 30 calendar days from the date of cessation of the status of emergency, for importers of medicines, protective equipment, other medical devices or equipment and sanitary supplies that may be used in the prevention, limitation, treatment and control of COVID-19.
  • With regard to the procedure for granting emergency certificates, certain adjustments are made, namely: through the certificate for emergency situations it is found that, based on the declarations on their own responsibility, the incomes or receipts related to March decreased with a percentage of at least 25% compared to the average of the revenues from January to February 2020.

 

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