(P) Tax Flash: Fiscal Procedure Code amendments in Romania

Amendments to the Fiscal Procedure Code (Ordinance 29/31 August 2011 published in the Official Gazette no. 626/2 September 2011) The current Ordinance enters into force within 15 days from the date it was published in the Official Gazette, with certain exceptions highlighted below. The current Tax alert provides the main amendments brought to the Fiscal procedure code, including the amendments taken over from the draft ordinance for the amendment of the Fiscal Procedure Code provided in our Tax alert 14/2011. Advanced tax ruling The deadline for the issuance of an advanced tax ruling is changed to 3 months (instead of 45 days as it is currently). The estimation of the taxable base The Ordinance repeals the provision according to which the tax inspection bodies determine the taxable base and related tax liabilities by using the indirect methods for reconstructing the revenues and expenses in case it is found that the tax evidence of the taxpayer is incorrect, incomplete, fake, missing or in case it is not made available to the tax authorities. According to the Ordinance, in these cases, the tax authorities may determine the taxable base and related tax liabilities based on reasonable estimation for which methods approved by ANAF in this respect may be used. Documentary review The documentary review is introduced in order for the Romanian tax authorities to correctly evaluate the fiscal status of the tax payers. The tax registration certificate The deadline for the issuance of the tax registration certificate is changed to 10 days (instead of 15 days as it is currently). On-line submission of tax returns The submission date for the tax returns submitted through electronic means is changed to the date of their registration on the e-Romania portal, as per the electronic message sent by the information trading system provided that the content of the returns is validated (instead of the validation date as it is currently). The interruption and suspension of the prescription period of the right to establish tax liabilities The Ordinance provides for specific cases when the prescription period is interrupted/suspended. Deadline for presenting the taxpayer’s point of view The taxpayer has the right to present, in writing, a point of view regarding the findings of the tax inspection within 3 working days as of the date when the tax inspection ends (i.e. the date when the final discussion with the taxpayer is set or the date when the taxpayer notifies the tax authorities that it gives up this right). The deadline for the issuance of the tax decision