(P) Tax Flash: Amendments to Fiscal Code and VAT, fiscal changes overview

Fiscal Code- Amendments to the Fiscal Code (Government Ordinance no. 15/23 August 2012 published in the Official Gazette 621/29 August 2012) Government Ordinance (“GO”) no. 15/23 August 2012 introduces certain amendments concerning profits tax, income tax, VAT, excise duties and social charges. The GO provisions enter into force as of 1 January 2013 (with certain exceptions). For more details, please refer to our Tax Alert no. 24 of September 2012. Fiscal Procedure Code- Amendments to the Fiscal Procedure Code (Government Ordinance no. 16/23 August 2012 published in the Official Gazette 618/28 August 2012) The main amendments brought to the Fiscal Procedure Code refer to the electronic submittal of tax returns, order of debt settlement and suspension of compulsory enforcement. For more details, please refer to our Tax Alert no. 23 of September 2012. VAT VAT registration procedure for taxable person having their seat of activities in Romania (Order no. 1100 / 20 July 2012, published in the Official Gazette of Romania no. 569 / 10 August 2012) The Order provides for amendments in terms of the date since the VAT registration is deemed valid, being the date when the VAT decision is communicated. Furthermore, certain clarifications are brought in respect of the documents which are to be filed with competent tax authorities (registration application, registration statement or certificate of recorded amendments), documentation required for filing purposes depending on the registration regime with the trade register of the person applying for VAT registration. Procedure for registration with the Register of intra-Community Operators (Order no. 1180 / 8 August 2012, published in the Official Gazette of Romania no. 587 / 17 August 2012) Main amendments refer to a number of clarifications brought to the concepts of „associates” or „administrators” used within the context of the procedure for registration with the Register of intra-Community Operators or documents which are to be filed with competent tax authorities for purposes of such registration. Moreover, the provision concerning the settlement of the application for registration with the Register of intra-Community operators within 10 calendar days as of the registration date of the application with competent tax authorities was repealed. Furthermore, various amendments and clarifications are brought to the procedure for ex officio deregistration of taxpayers from the Register of intra-Community Operators. Miscellaneous State aid schemes to support investments promoting regional development through new technologies and new jobs