We use this newsletter to inform you that the deadline for submitting the informative statement 207 regarding the tax withheld for payments made to non-resident beneficiaries in 2018 is 31 January 2019. In previous years, this statement was to be submitted until the last day of February of the following year.
We would also like to remind you of the obligation of any person or entity subject to a legal fiscal relationship to register for tax purposes in Romania, a topic that we have previously detailed in our Newsletter no. 2/2018.
Form 207 submission
The Romanian legal person paying income to non-residents must declare annually such payments and the taxes withheld, through form 207 "Informative statement regarding the tax withheld / exempted income, for non-resident income beneficiaries". The form should be prepared for payment of dividends, interest, royalties, commissions, income from the provision of services in Romania, income from independent professions, income from consultancy or management services provided both in and outside Romania, remuneration received by legal entities as administrator or member of the board of directors, income from the liquidation of a Romanian legal person.
In addition to the type of income, this form will also contain all identification data of the non-residents, including their Romanian tax registration number.
The submission deadline for form 207 is January 31st of the current year, for the payments made in the previous year. Being considered an informative statement, failing to submit form 207 may result in a fine between RON 12,000 and RON 14,000 for medium and large taxpayers and between RON 2,000 and RON 3,500 for small taxpayers, respectively.
Tax registration of non-residents
Non-residents which obtain income from Romania of the types mentioned above must register for tax purposes, through forms 015 (for legal persons) or 030 (for individuals). These forms should be submitted together with supporting documents regarding the income obtained from Romania, such as service contracts, management contracts, assignment contracts, loan agreements, etc.
More details regarding the tax registration of non-residents can be found in our Newsletter no. 2/2018.
The information in this newsletter is intended to give you an overview of legislative news; the newsletter does not contain a complete analysis of each topic. For more information about the subjects presented, please contact us. We do not accept any responsibility for decisions or omissions followed by the use of the content of this newsletter. All Boscolo&Partners newsletters are available at the following address: http://www.crowe.ro.
Boscolo & Partners