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New tax deferrals and other tax measures to support the business environment

In view of the current situation, which is burdensome for the business environment, a new OUG project has been created, which is intended to bring additional exemptions and facilities for the companies.

These facilities concern:

  • Extension of several deadlines: it is proposed to extend the application of some tax benefits that were included in other regulations until 25th of October 2020 (inclusive), including:
      • the taxes due after the 21st of March 2020 (governed by Article VII of OUG 29/2020);
      • lone payments (governed by Article XII of OUG 48/2020);
      • measures relating to suspension forced execution of the debts;
      • reduction of the times of resolution of the VAT reimbursment requests;
      • suspension of the prescription period;
      • suspension of the conditions for maintaining payment instalments, etc.

Currently, until the publication in the Official Gazette of this new decree, the debts are due on 25thof June, according to the provisions published on 29th of May in M.O. n. 459.

  • Measures related to bonuses on the payment of income/profit tax: the application of the 10% bonus on the payment of corporation tax for the quarters II (until 25th of July) and III (until 25th of October) for both taxpayers and microcompanies of corporate income taxes are extensive. Details of the original arrangements can be found here

The draft of the new regulation also clarifies how taxpayers with a modified tax year or with an asset-specific tax will apply this bonus.

  • VAT measures: temporary exemption from VAT, with right of deduction, is required for supplies, imports and intra-community purchases of protective masks and intensive care equipements by public institutions (until 1st of October 2020) necessary for the establishment of the EU capacity reserve.

  • Specific fiscal measures. Taxpayers who are subject to tax on specific Horeca activities (pursuant to Law No. 170/2016) will benefit from a specific tax exemption.

    • the exemption from payment will be granted in fiscal year 2020 for a period of 90 days;

    • the recalculation mechanism will involve the sharing of this reduction on a half-yearly basis, the first payment to be made by 25 July 2020;

    • the number of days during which the work was not carried out during the state of emergency (60 days) can be combined with the 90 days provided for by the decree, so you get an 'exemption from payment of the specific tax for a period of 150 days.

  • Measures in the field of gambling: the proposal aims at exemptions or recalculations of gambling exploitation fees for operators who manage traditional gambling and who's activity was suspended during the state of alert, as required by applicable law.

For the moment the draft decree is published only on the ANAF website, but we also await the publication of these provisions in the Official Journal.

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