References: GD 284/2017; Law 227/2015; GEO 84/2016; GEO 3/2017;
In the Official Gazette no. 319/04.05.2017 it was published the Government Decision no. 284 which correlated the Methodological Norms for the application of the Fiscal Code with the amendments made to it through GEO 3 and GEO 84, about which we informed you this year in the Newsletters No. 2 and 3.
You may find below the main amendments brought through the mentioned Decision.
CORPORATE INCOME TAX
Expenses related to the non-taxable revenues
One of the amendments brought to the New Fiscal Code was the one regarding the allocation of a part of the expenses incurred for the management and administration of the company as non-deductible expenses, in case the accounting evidence does not provide the possibility to identify the non-deductible expenses related to the non-taxable revenues.
This Decision introduces an example of calculation for the allocation of a part of the expenses incurred for the management and administration of the company as non-deductible expenses, in case of a company that has non-taxable revenues from dividends and the accounting evidence does not provide the necessary information to identify the expenses for the administration of the participation titles held.
Recovery of tax losses
Clarifications are made regarding the methods of recovery of tax losses for taxpayers who apply the taxing system on microenterprise revenues starting with 1 February 2017 and which, afterwards, re-become corporate income tax payers.
INCOME TAX FOR MICROENTERPRISES
Transitional measures 2017
Corporate income tax payers as at 31.01.2017 which by law become subject to microenterprises income tax starting with 1.02.2017, has the obligation to verify the threshold to exit from the system, respectively EUR 500.000 for total revenues and 20% for consultancy and management revenues, taking in consideration the revenues booked starting with 1 February 2017.
Revenues from dividends
Clarifications are brought regarding the situation in which health care contributions are due for dividend income, those contributions being due for the distributed dividends whether or not they have been paid by the legal entity.
Reactivated /re-registered taxpayers
The norms introduce detailed examples in respect of the VAT treatment applicable to obtain the deduction right in the case of transactions performed by taxpayers who are reactivated or re-registered after having had the VAT code canceled.
VAT adjustments for capital goods
Examples are introduced in what concerns the VAT adjustments for the capital goods which, according to the amendments brought to the Fiscal Code in 2017, are carried out in stages, for a value of 1/5 or 1/20 from the VAT initially deducted.
Taxable base adjustments in case of reorganization or bankruptcy
For the unpaid receivables due to the insolvency of the beneficiary, it is introduced the possibility to adjust the taxable base and diminish the tax collected within a period of 5 years starting with 1 January of the following year when the bankruptcy decision is issued by the court, respectively the reorganization decision is confirmed.
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