New changes of the Tax Code

Government approved two ordinances which amend the Tax Code and the Tax Procedure Code, designed to help companies during the current crisis.

The main changes are:

Government approved two ordinances which amend the Tax Code and the Tax Procedure Code, designed to help companies during the current crisis.

The main changes are:

Submission quarterly of 112 declaration for associations, foundations, and microcompanies
up to 3 employees (exclusive) and for companies with an average number up to 3 employees exclusive and a total income of less than 100,000 euros – an estimated number of 237,000 employers, individuals and legal persons (54,7 % of all those who submit Statement 112);
A special legal system for late payments will be established. According to this system, the voluntary payment is encouraged by the cancellation of the penalties on the payments made by the end of the current year and a 50% reduction of penalties on the payments made during the first half of the next year.
In order to facilitate participation in auctions of those companies that have debts to the state budget, but at the same time they have sums of money to recover from the state, now exist regulations that restrict enrollment of certain amounts, liquid and due to be received. The certificate of fiscal attestation will have two components: on one hand it will mention the amounts that company ows to the state budget, and on the other hand it will indicate the amounts that the company has to receive from the state.
Setting the 25th of each month as the sole date for submission of all tax returns and fulfillment of all tax obligations by taxpayers, natural and legal persons, to the state budget and social security budget.

Also during this period the Ministry of Tourism has announced its intention to introduce measures with impact on tourism:

5% tax increase for those who are owners or managers of buildings with tourist destination that are not in the tourist circuit;
tax reduction by half for hoteliers who maintain hotels open at least six months per year, the point of the change being the increase of the summer season.