The Emergency Ordinance no. 48/2020 regarding some financial-fiscal measures was published in the Official Gazette no. 319/2020.
The Ordinance amends the following normative acts:
1. Fiscal Code
Tax on microenterprise
Deduction from the microenterprises income tax is allowed for sponsorships made to public institutions and authorities, including specialized bodies of public administration, without the obligation to register the respective beneficiary entities in the Register of entities/units for which tax deductions are granted.
Income tax and social contributions
Benefits in kind granted to individuals who obtain income from salaries or assimilated to them as a result of occupying essential functions for carrying out the activity and who are in preventive isolation, at work or in specially dedicated areas, for a period established by the employer during the state of emergency, are not included in the area of taxable income and are not subject to social contributions.
2. Fiscal Procedure Code
During the state of emergency and 30 days after its completion, the VAT requested for reimbursement through the VAT returns, submitted within the legal term of submission, is reimbursed by the Central Fiscal Authorities with the subsequent performance of the fiscal inspection.
3. Emergency Ordinance no. 77/2009 on the organization and operation of gambling
Gambling operators can request for the reauthorization of the activity no later than 90 days from the date of completion of the declared state of emergency. Also, during the state of emergency, the payment obligations related to the authorizations for the exploitation of traditional gambling are suspended.
Penalties are not applied according to the law for non-payment of fees related to gambling exploitation authorizations, if the payment is performed within 30 working days from the completion of the declared state of emergency.
Traditional gambling operators do not owe fees related to gambling operating authorizations for the entire period of the declared state of emergency.
4. Annual financial statements
The term for the submission of the annual financial statements related to the financial year 2019, respectively of the annual accounting reports as at December 31, 2019 is extended until July 31, 2020, included.
5. Law 170/2016 regarding specific tax for certain activities
Taxpayers having the liability to pay specific tax for certain activities will not owe specific tax for the period of fully or partially interruption of their activity during the state of emergency. Such taxpayers would have to hold the certificate for emergency situations and to not be insolvent.
CONTACT
Madalina Badescu
Tax Manager | Accace Romania
E-mail: madalina.badescu@accace.com
