September Newsletter

The cancellation procedure for income tax set for 2018 by early payments decisions has been approved

The procedure shall apply to natural persons who, until the date of entry into force of the Government Emergency Ordinance no. 25/2018 regarding the modification and completion of some normative acts, as well as for the approval of some fiscal-budgetary measures, with subsequent amendments, owe income tax established for 2018 on the basis of Law no. 227/2015 on the Fiscal Code, as subsequently amended and supplemented.

In case the tax liabilities representing income tax set for 2018 by early payment decisions have been extinguished, the specialty department will re-analyze the tax records and rework the dents so that the object of the cancellation is the individual tax liabilities in the anticipated payments decisions for the income tax set for 2018. The specialized department draws up a report approving the cancellation of tax liabilities and the issuance of the Income Tax Cancellation Decision set for 2018 by early payment decisions.

Failure to comply with the term of equipment with new cash registers under the Law on prevention

The Government approved in September the initiative of the Ministry of Public Finance to introduce the non-observance of the term of equipment with the new cash registers under the Law on Prevention, by amending point 42 of Annex no. 1 to Government Decision no. 33/2018 on the establishment of contraventions falling under the Prevention Law no.270 / 2017, as well as the model of the remediation plan.

The measure, which will be in place temporarily, will ensure a preventive, incentive approach and not a sanctioning of the economic operator from the first offense. The control bodies will analyze the situation of each taxpayer and, if he does not have an electronic log bookmarker, he will apply the warning and set a maximum of 90 days’ to acquire the necessary equipment, depending on the findings.

Amendments to the Regulation for inspection and technical expertise of the quality of the projects, the execution of works and constructions.

The Government approved on the 13th of September, at the proposal of the Ministry of Regional Development and Public Administration (MDRAP), the amendment of G.D. no. 925/1995 for the approval of the Regulation for inspection and technical expertise of the quality of the projects, the execution of works and constructions.

The current form of the Regulation includes provisions on the technical and professional attestation of project verifiers, technical experts and technical executives with execution as well as the regular confirmation of the exercise of their right of practice. Also, the normative act establishes and details the objectives, the content and the way of carrying out the activities for inspection and technical expertise of the quality of the projects, the execution of the works and the constructions, according to the provisions of Law no. 10/1995 on quality in construction.

Verification of the personal tax situation by the central fiscal body

By Order Nr. 2117/2018 of 27 August 2018 of the National Tax Administration Agency, the model and content of the forms and documents used in the verification of the personal tax situation have been approved.

General Directorate for Personal Income Control, General Directorate for the Regulation of Collection of Budgetary Claims, Directorate General Procedures for the Administration of Income, the Regional General Directorates of Public Finances and their subordinated units will take measures to carry out the provisions of this Order.

Preparation of economic operators in the field of state aid

The Ministry of Public Finance, through the School of Public Finance and Customs (SFPV), supports the economic operators who wish to apply for funding through G.D. no 807/2014 for the establishment of a State aid scheme aimed at stimulating investments with a major impact on the economy.

Barometer of Digitization in Romanian Companies 2018

The survey results show that in Romania in 2018, 47% of companies say digitalisation has already had a major influence on their business, and 53% are confident about the success of digitization and believe they have the knowledge to navigate the process. On the other hand, 24% of companies say they have difficulties with digital transformation. Of these, 22% are confident that they will capitalize on this trend. Only 2% say they do not trust that digitization is good for the company.

Romania ranks 5th in Europe in contactless transactions

According to Mastercard’s study for Europe, Romania ranks 5th in Europe with regard to contactless transactions, with 70% of total payments made to traders in the first eight months of the year.

The EIF announces the allocation of over 150 million euros of funding to Romanian farmers

The European Investment Fund (EIF) has selected four Romanian banks under the first agricultural financing agreement in Romania to provide new funding to farmers across the country.

The four banks in Romania – Romanian Commercial Bank, ProCredit Bank, Raiffeisen Bank and UniCredit Bank will provide financing worth 155 million euros for over 1,300 farmers and rural entrepreneurs.

The EIF and the Ministry of Agriculture and Rural Development signed the financing agreement last year to support local farmers in Romania, and these four banks are the first to provide financing to local entrepreneurs. The agreement is part of the National Rural Development Program (NRDP) and is financed by the European Agricultural Fund for Rural Development (EAFRD).