Companies will no longer be obliged to pay the minimum profit tax. 25th of October is deadline for the minimum profit tax due for the period of July-September 2010, whereas starting with the 4th quarter of 2010 Companies will begin to normally calculate and pay the actual profit tax (zero in case of fiscal loss). Further to the latest amendments introduced by Government Emergency Ordinance no.87/29.09.2010 to the Fiscal Code.
Claims receivable from the Treasury (for example VAT receivable, advance payments) will now be automatically offset with the debts payable to the Treasury, if administrated by the same fiscal authority. Clearance will be done the moment both debts and receivables are due to the state budget and fiscal decision will be communicated to the tax payer in the following 7 days. Also, enforced recovery procedures will not start or will be suspended if the tax payer has an undergoing recovery request for amounts equal or higher than his obligations. Provisions applicable from 1st November 2010, introduced by Government Ordinance no.88/29.09.2010 for the amendment and completion of the Fiscal Procedure Code, published on 30 September 2010 in the Official Gazette no.669.
Interest for late payment of fiscal obligations decreases from 0.05% to 0.04% per overdue day starting with 1st October. Source: Government Ordinance no.88/29.09.2010 for the amendment and completion of the Fiscal Procedure Code, published on 30 September 2010 in the Official Gazette no.669
Large and medium sized Companies (and their related working points) will have to start electronically submission for all fiscal returns due on 25th November, using the official website www.e-guvernare.ro. Source: Order no.2520/ 27.09.2010 of the President of the National Agency for Tax Administration, published on 1st October 2010 in the Official Gazette no.670.