(P) Tax Alert: Amendments to the Fiscal Procedure Code in Romania

(Government Ordinance no. 16/23 August 2012 amending and completing the Government Ordinance no. 92/2003 regarding the Fiscal Procedure Code, published in the Official Gazette no. 618/28 August 2012) The Ordinance brings a series of amendments and completions to Government Ordinance No. 92/2003 regarding the Fiscal Procedure Code, as subsequently amended and completed. The main amendments brought to the Fiscal Procedure Code include, inter-alia, the following: Electronic submittal of tax returns Several clarifications have been introduced in relation to the tax return submittal date via remote transmission resources. The date of submittal of the electronic tax return is the date of the electronic message. Order of debt settlement The possibility for the taxpayer to choose the tax liability or fine to be settled with priority has been introduced, in the case of tax liabilities assessed by tax inspection authorities, as well as in the case of fines. Suspension of compulsory enforcement The possibility of suspending or non-initiating the compulsory enforcement has been adopted in the case of tax liabilities challenged, provided that the taxpayer submits to the competent tax authorities a letter of bank guarantee at the level of relevant tax liabilities, valid for a period of at least 6 months as of issue date. By Venkatesh Srinivasan, Partner – Head of Tax and Legal, Ernst & Young Romania (P) – this article is an advertorial