MAZARS ROMANIA S.R.L.

  |  2013-09-13

Latest changes to the tax legislation

Monitorul Oficial al Romaniei No 528 / 22 August 2013 has published Government Resolution No 613 / 14 August 2013 which amends and supplements the Methodological Norms for the application of Law No 571 / 2003, regarding the Tax Code, approved under Government Resolution No 44 / 2004.

The major amendments introduced by the new legislative act refer to:

  • Redefinition, from a profit tax and income tax perspective, of the amounts representing contributions to the facultative pension scheme, deductible up to the annual threshold of EUR 400;
  • Establishment of the currency exchange method with a view to determining the value of furs, weapons and ammunition in consideration of their origin;
  • Abrogation of the provisions regarding the situations in which total damage or irrecoverable loss of excisable products may not be deemed release for consumption if such products are damaged or lost while being in duty-suspension;
  • Extension of the obligation to hold authorisation for intra-Community acquisitions to the economic operators willing to purchase products which are subject to non-harmonised excise duties starting 1 September 2013;
  • Clarification on the rules and procedure benefiting small-sized independent producers of beer on which lower excise duty is levied, as well as on the procedure whereby the difference between the standard excise duty and the lower-rated duty may be claimed for refund;
  • Establishment of the maximum guarantee that may be provided by authorised bonded-warehouse keepers for every type of excisable goods; change in the level and method of calculating the guarantee payable by registered forwarders; restatement of the procedure whereby the application for the reduction of guarantee may be approved;
  • Changes to the procedure of classifying energy products from an excise-duty perspective, and clarification on the procedure of registering authorised bonded-warehouse keepers that are designated for the production of energy products.

The amendments contained in this legislative act become effective as of the date of its publication in Monitorul Oficial, excepting the provisions referring to the products which are subject to nonharmonised excise duty and those regarding the guarantee that should be provided by registered forwarders, which come into full force and effect as of 1 September 2013.

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