Following the cancelation of the minimum profit tax starting with 1st October, the Romanian tax authority decided to split the fiscal year 2010 in two reporting periods: 01.01.2010 – 30.09.2010 and 01.10.2010 – 31.12.2010. Previous tax payers subject to the minimum profit tax will have to now prepare two profit tax declarations (form 101), as follows:
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For the first period, 01.01.2010 – 30.09.2010, deadline for the profit tax return is 25th February 2011;
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For the second period, 01.10.2010 – 31.12.2010 deadline may be 25th February (if the financial result is final and approved) or postponed for 25th of April 2011.
Source: Order no.2689/16.11.2010 of the President of the National Agency for Tax Administration, published on 25 November 2010 in the Official Gazette no.789.
In case of any questions please feel free to contact us at [email]romania@accace.eu[/email]
