What news brings September 1?

From September 1, 2013 several changes to the Tax Code and its implementing rules shall take effect. Among them, are worth mentioning :

Introduction of the reduced VAT rate TVA of 9% for backery products

This will apply to the following products:

• all kinds of bread
• croissants, rolls, sticks, pretzels, minibaghete, batons and braids ;
• white wheat flour, milled wheat flour, wheat flour and dark rye flour ;
• triticum spelta and meslin wheat – CN code 1001 99 00, and rye – CN code 1002 90 00

Excise tax will be extended to more products.

New categories of luxury products will be subject of the excise tax, such as:

From September 1, 2013 several changes to the Tax Code and its implementing rules shall take effect. Among them, are worth mentioning :

Introduction of the reduced VAT rate TVA of 9% for backery products

This will apply to the following products:

• all kinds of bread
• croissants, rolls, sticks, pretzels, minibaghete, batons and braids ;
• white wheat flour, milled wheat flour, wheat flour and dark rye flour ;
• triticum spelta and meslin wheat – CN code 1001 99 00, and rye – CN code 1002 90 00

Excise tax will be extended to more products.

New categories of luxury products will be subject of the excise tax, such as:

• gold jewelery/platinum, except wedding bands
• natural fur garments
• cars and SUVs, new and use , whose capacity is higher or equal to 3000 cc .
• yachts and other vessels for pleasure with or without motor
• hunting weapons and weapons use.
• cartridges and other ammunition bullets

Also, alcohol excise duties will be increased.

Implementation of simplification measures (reverse taxation) to the delivery of electricity.

As of September 1, 2013, the reverse taxation extends to the following operations:

• electricity supply by a taxable seller (buyer – reseller) that is authorized ANRDEE – for purchase and resale of electricity;
• transfer of green certificates.

Finally, changes have been made also regarding cancellation / re-registration for VAT purposes.

August also brought a courageous decision NBR which reduces the reference rate up to 4.5% per year. The measure aims to stimulate the economy by boosting consumption .

Not last, for taxpayers carrying out economic transactions within the European Union it is important to remember that by the end of September they can submit claims for VAT reimbursement from other EU countries for 2012 (Forms 313 and 318).