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Amendments brought to the Fiscal Code

Angela Rosca 13 Dec 2016

Taxand Romania looks at the amendments brought to the Fiscal Code and the Fiscal Procedure Code.

Government Emergency Ordinance no. 84/2016, published in the Official Gazette no. 977 of 6 December 2016.

Main amendments brought to Law no. 227/2015 regarding the Fiscal Code

This Emergency Ordinance amends and supplements the Fiscal Code on the following:

• General provisions
• Corporate income tax
• Tax on micro-enterprise’s income
• Personal income tax
• Social security contributions
• Value added tax

Main amendments brought to Law no. 207/2015 regarding the Fiscal Procedure Code

This Emergency Ordinance also amends and supplements the Fiscal Procedure Code:

• Changes are brought in respect of the conditions to be met by inactive taxpayers in order to be reactivated
• In the context of de-bureaucratisation and administrative simplification, completions are brought to the Fiscal Procedure Code regarding payment of tax obligations and submission of tax statements
• Also, in case of anticipated tax audits performed for the settlement of VAT returns with negative VAT amounts, the period subject to the VAT audit will exclusively cover the tax periods when the transactions which generated the negative VAT amounts were carried out, except for the situation when aspects that indicate non-compliance with the tax legislation or tax obligations which were incorrectly established are identified

Discover more: Amendments brought to the Fiscal Code

Taxand's Take

Except for the changes brought to social security contributions, the ammendments to the Fiscal Code will enter into force starting with 1 January 2017. The provisions amending the Fiscal Procedure Code will enter into force at the date when this Ordinance is published on the Romanian Official Gazette, except for the new definitions introduced and the provisions regarding the mandatory automatic exchange of information in the tax field which will enter into force starting with 1 January 2017.

Article tags

International Tax | Romania