The Decision of the Body of Expert and Licensed Accountants (CECCAR) no. 14/2014 of April 7, 2014 on approving the Table of Body of Expert and Licensed Accountants of Romania was published in the Official Gazette of Romania no. 326 of May 6, 2014.

The Decision approves the Table of Body of Expert and Licensed Accountants of Romania, which comprises the lists of individuals and legal persons who have obtained the annual authorization for the profession: the expert accountant activity and/or authorized accountant.

Order of the Ministry of Public Finance no. 665/2014 of May 9, 2014 on suspending the provisions of the Order of the Minister of Public Finance no. 1.870/2004 for approving the Instructions for filling in the payment registration number was published in the Official Gazette of Romania no. 360 of May 15, 2014.

According to the provisions of the present Order, between May 15, 2014 and December 31, 2015 the provisions of the Order of the Minister of Public Finance no. 1.870/2004 for approving the Instructions for filling in the payment registration number are suspended.

Notwithstanding the provisions of the Order are still applicable to the taxpayers who choose to pay:

  • tax liabilities determined by the tax inspection authorities and/or fines of any nature established according to the law;
  • the environmental stamp for cars;
  • a tax liability contained in a decision to postpone the payment of tax liabilities.

The Decision of the Chamber of Financial Auditors of Romania no. 35/2014 of April 24, 2014 on approving the fees and charges for members of the Chamber of Financial Auditors of Romania, individuals and legal persons, and trainee members of the financial audit was published in the Official Gazette of Romania no. 358 of May 15, 2014.

The Decisions approves the fees and charges for members of the Chamber of Financial Auditors of Romania, individuals and legal persons, and trainee members of the financial audit.

Upon entry into force of the Decision on May 15, 2014, the provisions of the Decision of the Council of Chamber of Auditors of Romania no. 262/2011, as amended and supplemented, are repealed.

Order of the Ministry of Labor, Family and Social Protection for the Elderly no. 698/2014 of 12 May 2014 for establishing the indexed nominal value of a meal ticket for the first half of 2014 was published in Official Gazette of Romania no. 362 of May 16, 2014.

For the first half of 2014, the nominal value of the meal ticket remains unchanged: 9.35 lei.

Order of the Ministry of Labor, Family and Social Protection for the Elderly no. 699/2014 of 12 May 2014 for establishing the indexed monthly amount awarded in the form of childcare vouchers for the first half of 2014 was published in Official Gazette of Romania no. 362 of May 16, 2014.

For the first half of 2014, the monthly amount provided in the form of childcare vouchers remains unchanged: 430 lei.

Government Decision no. 421/2014 of 20 May 2014 for amending and supplementing the Methodological Norms for applying Law no. 571/2003, regarding the Fiscal Code, approved by Government Decision no. 44/2004 was published in Official Gazette of Romania no. 384 of May 23, 2014.

The amendments and supplements brought to the Methodological Norms for applying Law no. 571/2003 regarding the Fiscal Code aims to: income tax, tax on constructions, tax on income obtained from Romania by nonresidents, the value added tax and excise duties. Thus:

Income tax - tax exemption for profit reinvested

Clarifications are brought to the following notions: “production of technological equipment”, “gross accounting income from the beginning of the year”, “technological equipment which are considered new” and examples for calculating the profit tax exemption for reinvested profits are provided.

According to the provisions of the Decision, for the technological equipment which is under financial lease and is put into operation between July 1, 2014 and December 31, 2016, the tax exemption is applied by the user under the condition of keeping the equipment in the patrimony for a period at least equal to half of the economic usage period, but no more than 5 years.

Tax revenues from Romania obtained by nonresidents and the tax on the branches of the foreign companies established in Romania

Since the procedure for refunding the tax withheld in excess of the quotas of double taxation conventions or to quotas provided under the European law was inserted in the Fiscal Procedure Code, the details regarding the procedure mentioned in the Norms for Implementing the Fiscal Code have been removed (section 131).

Value added tax

It is repealed section 82 para. 8 regarding the exception of reverse charge on transactions subject to simplification measures under art. 160 of the Fiscal Code, when the normal tax system was applied and correction being no longer possible because of the insolvency/bankruptcy of the supplier/beneficiary.

Tax on constructions

Clarifications were brought in relation to the value of the existent constructions in the taxpayers’ patrimony at December 31 of the previous year which, according to the norms, represents the value reflected for accounting purposes as the balancing value of the construction related accounts, excluding the constructions recorded in off balance sheet accounts.

In addition, the rules for determining the basis of assessment are established, as follows:

  • the value of tangible assets in progress and the value of constructions held by the state or territorial and administrative units are not included in the basis of assessment.
  • the value of the buildings exempted from payment of the tax on buildings, except for those which are held by or are to be held by the state or administrative and territorial units, will not be subtracted from the value of the constructions existing in the patrimony of taxpayers at December 31 of the previous year
  • the basis of assessment will not include the equivalent value of the works for the reestablishment, modernization, consolidation, alteration or expansion of areas which are rented/under concession/administration or use, if such works were notified to the owner, and their value exceeds 25% of the value of such areas.

Order no. 1292/2014 issued by the National Tax Administration Agency (ANAF) of May 20, 2014, for approving the template and content of form 106 “Informative Statement regarding dividends owed to shareholders”, was published in the Official Gazette of Romania no. 389 of May 27, 2014.

This order approves the template and content of form 106 “Informative Statement regarding dividends owed to shareholders”, drafted and submitted by national firms and companies in which the state is the sole shareholder, a majority shareholder or it holds control, if , for the reporting year, dividends were subject of distribution to shareholders. The deadline for submitting such statement at the relevant tax body is the 25th of the month following the approval of the distribution of the profit.