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deRainfall February 20, 2012

The term for submitting annual financial statements (D 101) has been altered

Every beginning of the year comes with a series of questions regarding the reporting of the financial situation of the last year. In the following article, we will try to give an answer to some of the frequently asked questions on this matter, with reference to the 2011 financial year.

When do we submit Declaration 101 in 2012?

According to Ordonance nr. 2/25th of January 2012 regarding modification and completion of OG 92/2003 regarding Fiscal Procedure Code, annual declaration of income tax (tax on profit) for 2011 will be submitted, with the proper authorities, until March 25th, except non-profit organizations and companies with their majority of income based on cereal culture and technical plants, tree and vine farming, which submit their form up to 25th of february 2012.

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Every beginning of the year comes with a series of questions regarding the reporting of the financial situation of the last year. In the following article, we will try to give an answer to some of the frequently asked questions on this matter, with reference to the 2011 financial year.

When do we submit Declaration 101 in 2012?

According to Ordonance nr. 2/25th of January 2012 regarding modification and completion of OG 92/2003 regarding Fiscal Procedure Code, annual declaration of income tax (tax on profit) for 2011 will be submitted, with the proper authorities, until March 25th, except non-profit organizations and companies with their majority of income based on cereal culture and technical plants, tree and vine farming, which submit their form up to 25th of february 2012.

Every beginning of the year comes with a series of questions regarding the reporting of the financial situation of the last year. In the following article, we will try to give an answer to some of the frequently asked questions on this matter, with reference to the 2011 financial year.

When do we submit Declaration 101 in 2012?

According to Ordonance nr. 2/25th of January 2012 regarding modification and completion of OG 92/2003 regarding Fiscal Procedure Code, annual declaration of income tax (tax on profit) for 2011 will be submitted, with the proper authorities, until March 25th, except non-profit organizations and companies with their majority of income based on cereal culture and technical plants, tree and vine farming, which submit their form up to 25th of february 2012.

Form 101/2012 has been modified and is available on ANAF’s web site:

http://www.anaf.ro/public/wps/portal/ANAF/Depuneredecl/Descdecl

When is the balance sheet due in 2012?

The term for submitting annual financial statements and annual simplified financial declarations to local Public Finances Office locations is:

  • 150 days from the end of the financial year – commercial firms,national companies, autonomous administrations, national research and development institutes,

  • 120 days after the end of the financial year – for people noted in Article 1 of Accounting Law,

  • 60 days after the end of the financial year. – Entities that have no commercial activity from their creation to 31st of December, don’t submit forms and annual simplified financial declaratios, instead, they submit a self-accounting declaration to the teritorial offices of the Public Finance Ministry.

Self-accounting declaration must include:

    • Full name (according to registration);

    • Address and phone number;

    • Registration number (According with registration)

    • Unique Registration Code (CUI)

    • Reserved Capital (Social Capital)

Who can sign the balance sheet dated 31st of December 2011?

Financial situation at 31.12.2011 can only be signed by the:

    • Economic Director, Chief Accountant or any other legally empowered person (according to legislation);

    • Private parties of companies, authorised by the Law, members of CECCAR.