In the Official Gazette no. 885/10.11.2017 was published the Emergency Ordinance no. 79 for amending and supplementing the Law 227/2015 regarding the Fiscal Code. The changes made by this Emergency Ordinance are already known as the Tax Revolution, being ample and with a significant impact on several taxes and duties.
In November, we introduced you the changes brought to income tax and social security contributions (Newsletter no. 11/22.11.2017), while in this newsletter we continue with the analyze of the main changes on corporate income tax and income tax for microenterprises.
The provisions in relation to corporate income tax transpose the EU Directive 2016/1164 regarding rules against tax avoidance (ATAD).
Please note that since November, in the Parliament there are certain debates regarding several amendments to GEO 79/2017. We will revert on this subject once they will be approved and published in the Official Gazette.
The provisions of GEO 79/2017 presented in this newsletter apply starting with 01.01.2018.
CORPORATE INCOME TAX
Interest deductibility rules
Controlled foreign company rules
INCOME TAX FOR MICROENTERPRISES
Threshold for applying the system
The revenue threshold under which a company is considered a microenterprise has been increased from EUR 500.000 to EUR 1.000.000.
Amendments to the scope of application
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.crowehorwath.ro.
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