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Legislative summary December 2008

- Fiscal Code;- Fiscal Procedure Code;- Intrastat; - Banking and credit institutions; - State aid- Individual Taxation; - Customs;

Fiscal Code

Amendments to the Fiscal Code(Emergency Ordinance 200/4 December 2008 published in Official Gazette 815/4 December 2008)Emergency Ordinance 200/2008 introduced amendments to the Fiscal Code provisions, generally applicable starting from 1 January 2009.Please refer to our Tax Alert No 11/5 December 2008.

Amendments to Fiscal Code Norms (Decision 1618/4 December 2008 published in Official Gazette 865/22 December 2008)Decision 1618/2008 introduced amendments to the Fiscal Code Norms provisions.Please refer to our Tax Alert No 15/22 December 2008.

New VAT return template(Order 1746/16 December 2008 published in Official Gazette 864/22 December 2008)A new template of the VAT return (statement 300) should be used starting with the reporting of the December 2008 liabilities.

New level of excise duty for cigarettes(Order 3687/17 December 2008 published in Official Gazette 860/20 December 2008)The level of the excise duty for cigarettes applicable during the period 1 January - 30 June 2009 is set at EUR 44.64/1000 cigarettes, respectively RON 166.79/1000 cigarettes.

Configuration of the Excise Duty Code and the Nomenclature of codes for products subject to harmonized excise duties (Order 3661/15 December 2008 published in Official Gazette 888/29 December 2008)The Order approves the configuration of the Excise Duty Code and the Nomenclature of codes for products subject to harmonized excise duties, cancelling Order 954/2006.

 

Fiscal Procedure Code

New templates and the related filling in instructions for certain tax returns(Order 1809/24 December 2008 published in Official Gazette 894/29 December 2008)

New templates and the related filling in instructions are introduced for certain tax returns (i.e. statements 100, 101, 102, 104, 120).The Order is applicable for tax liabilities recorded after 1 January 2009 (e.g. with reporting deadline by 25February 2009).

Decision 2 of the fiscal procedures Commission(Order 1754/17 December 2008 published in Official Gazette 864/22 December 2008)The Order clarifies that, in case of appeals against fiscal decisions issued following a second audit by the tax authorities of the same period and for the same fiscalobligation, during which no new information exists as compared to the previous audit, the tax liabilities set in the initial tax decision will be maintained.

Reduction of 5% for early payment of tax liabilities(Emergency Ordinance 192/25 November 2008 published in Official Gazette 815/4 December 2008; Order 1764/19 December 2008 published in Official Gazette 888/29 December 2008; Emergency Ordinance 226/30 December 2008 published in Official Gazette 899/31 December 2008)

A reduction of 5% for tax liabilities paid at least 10 days prior to the deadline, under certain conditions, was provided under Ordinance 192 amending the Fiscal Procedure Code, together with other measures for stimulating economical growth.

Subsequently, Ordinance 226 repealed the above mentioned Emergency Ordinance 192. Please refer to our Tax Alerts No 13/8 December 2008 and No 16/31 December 2008.

 

Intrastat

Thresholds for submission of Intrastat declarations(Order 683/28 November 2008 published in Official Gazette 826/9 December 2008)The Order sets the thresholds for the submission of Intrastat declarations in 2009, as follows (no change from the 2008 levels):

- RON 900,000 for intra-community dispatches of goods;

- RON 300,000 for intra-community arrivals of goods.

Amendments to Intrastat application Norms(Order 684/28 November 2008 published in Official Gazette 839/12 December 2008)The Order approves the Norms for filling in the Intrastat declaration.Please refer to our Tax Alert No 14/17 December 2008.

 

Banking and credit institutions

Amendments regarding the model of FINREP financial statements at individual level, applicable to credit institutions (Order 12/17 November 2008 published in Official Gazette 811/4 December 2008)

The Order amends the model of FINREP financial statements at individual level and the related methodological norms, applicable for banks, Romanian legal entities, credit cooperative organizations, institutions issuing electronic currency, mortgage banks, and Romanian branches of credit institutions from third party states, included in the Register of credit institutions as per OUG 99/2006.

The changes include the deadline for submission to NBR of the annual financial statements, set now at 150 days as of the end of the financial year, as compared to 120 days previously.

National Bank of Romania reference interest rate (Circular 41/2 December 2008 published in Official Gazette 818/5 December 2008)The NBR reference interest rate for December 2008 is of 10.25% per annum.

Bookkeeping Regulations for banks and other financial institutions(Order 13/19 December 2008 published in OfficialGazette 879/24 December 2008)

The Order approves the bookkeeping Regulations applicable for banks, credit cooperative organizations, institutions issuing electronic currency, savings and credit banks for housing, mortgage banks as well as for non-banking financial institutions, and for the guarantee Fund for deposits in the banking system. These regulations are prepared in order to be in line with the EU directives.

The Order will be applied starting 1 January 2009. For non-banking financial institutions, the provisions of such Order will be applied starting 31 March 2009 at thelatest.

 

State aid

State aid for companies in AVAS portfolio(Emergency Ordinance 206/4 December 2008 published in Official Gazette 831/10 December 2008)The Emergency Ordinance provides measures that could be used by AVAS in order to help companies in its portfolio throughout the financial crisis, namely:

- loans with an interest rate comparable with the reference value set by the European Commission (and also with the interest rates used for loans granted to other companies);

- restructuring state aids; and

- fiscal/bank/commercial debt rescheduling for periods no longer that 5 years.

The measures set above are subject to issuing of a state aid scheme, upon the European Commission's approval.

Conditions will be published through a Government decision.

 

Individual Taxation

Social security contribution rates for 2008(Emergency Ordinance 226/ 30 December 2008 published in Official Gazette 899/31 December 2008)

The Emergency Ordinance sets the social security contribution rates applicable as of January 2009 and introduces certain amendments to the relevant legislation, cancelling Emergency Ordinance 192/2008.

Please refer to our Human Capital Alert No 1/January 2009.

 

Customs

Amendments to Order 6632/2007 regarding the exports control system (Order 7841/10 December 2008 published in Official Gazette 851/18 December 2008)

The list of documents that can be provided by the export operator to certify the status of the export (such that the customs office granting the clearance can close the export in its informatic system or declare the export declaration as "invalid") is extended by the following:

- the copy of the delivery order, signed or authenticated by the beneficiary who is situated out of the Community customs territory;

- the proof of payment, invoice or delivery order signed or authenticated by the company taking out the goods from the Community customs territory;

- a statement signed or authenticated by the company taking out the goods from the Community customs territory;

- a document certified by the customs authorities of a member state or a country out of the Community customs territory;

- the operators' records in case of goods delivered to drilling platforms or extraction platforms for oil or natural gas.

The Order also modifies the deadline for presenting the relevant documentation to 150 days following the customs clearance, as compared to 120 days previously.

Instructions for the access of economic operators to NCTS/TIR

(Order 7898/12 December 2008 published in Official Gazette 851/18 December 2008)

The Order approves the instructions regarding the access of economic operators to NCTS/TIR component of the application NCTS-RO, which allows economic operators to submit the TIR carnet electronically for the operations carried out in the Community customs territory.

The list of the necessary documents that have to be submitted to the Customs Authority to obtain the authorization for accessing NCTS/TIR through the informatic application NCTS-RO, and the conditions for suspension, revocation and annulment of the access authorization are also provided.

Authorizations for the use of TIR carnets by companies(Order 7969/12 December 2008 published in Official Gazette 860/20 December 2008)

Cancelling Order 344/2005, these are instructions for authorizing companies to use the TIR carnets, including inter-alia the necessary documentation to be submitted and the conditions to be met in order to receive the authorization, and conditions for the cancellation of the right to use a TIR carnet. These are applicable as of 1 January 2009.

 

Miscellaneous

Order amending the procedure for the transfer of fiscal receivables administrated by ANAF (Order 1600/27 November 2008 published in Official Gazette 805/2 December 2008)

The Order amends and completes the procedure for the transfer of fiscal receivables administered by ANAF (i.e.taxpayers' tax liabilities: principal, interest and penalties), referring inter-alia to:

- the fiscal authority that can initiate the procedure of the transfer of fiscal receivables;

- the elements included in the value of the transferred fiscal receivable;

- the mandatory elements of the announcement of a transfer of fiscal receivables;

Amendments to Emergency Ordinance 50/2008 regarding the pollution tax for vehicles (Emergency Ordinance 208/4 December 2008 published in Official Gazette 825/8 December 2008; Emergency Ordinance 218/10 December 2008 published in Official Gazette 836/11 December 2008; Order 1748/16 December 2008 published in Official Gazette 874/23 December 2008)

Ordinance 208 amended Emergency Ordinance 50/2008, increasing the pollution tax for some of the types of vehicles, effective as of 8 December 2008.

Subsequently, Emergency Ordinance 218 cancelled this Emergency Ordinance 208, providing that the increase in tax takes effect as of 15 December 2008.

Order 1748/2008 provides the template of the Decision for the differences of the pollution tax for vehicles.

Decision approving the levels of the vehicle tax for 2009(Decision 1697/17 December 2008 published in Official Gazette 873/23 December 2008)

The Decision approves the new levels of the vehicle tax applicable for 2009, for transport vehicles with a total authorized weight of or over 12 tons and combinations of transport vehicles with total maximum authorized weight of or over 12 tons.

Economic operators have to declare by 31 March 2009 if the related vehicle performed or will perform during 2009 at least one international road transport.

Amendments to Decision 2139/2004 regarding the normal useful life for some fixed assets (Decision 1496/19 November 2008 published in Official Gazette 852/18 December 2008)

The Decision amends the annex of Decision 2139/2004 regarding the useful life for fixed assets, setting the useful life for Thermoelectric power stations to 30-48 years (as compared to 32-48 previously), and for Equipment for steam-generating, electric and nuclear power stations to 8-30 years (as compared to 8-12 previously).

 

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Tags: december published order compared november instructions excise liabilities conditions approves community companies territory vehicles interest banks goods regarding financial decision refer credit institutions state banking intrastat fiscal procedure customs amendments applicable january please gazette official emergency ordinance norms

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