Stefan Jammer
Newsletter December 2018
EMERGENCY ORDINANCE NO. 89 OF 09.10.2018 As of 01.11.2018, the reduced VAT rate of 5% also applies to the following services: Entrance fees to fairgrounds, amusement parks and amusement parks; Accommodation in the hotel sector or similar sectors with a similar function, including the renting of land equipped for camping sites; Gastronomy and catering services, more…
Newsletter July 2018
DISTRIBUTION OF DIVIDENDS IN THE CASE OF CORPORATIONS (LAW NO. 163/2018) From July 15, 2018, the distribution of profits between the stockholders or the shareholders of a company can also be made quarterly, i.e. during the course of the financial year. Until now, it was prohibited by law to distribute profits during the year. Profits more…
Newsletter April 2018
EMERGENCY ORDINANCE NO. 25 OF 30.03.2018 1.Profit tax For Taxpayers who are subject to profit tax, the obligation to submit an informative declaration regarding the beneficiaries of donations/sponsors/private scholarships is introduced. The deadline for submission of the declaration is 25 March. 2. Micro corporate tax Change option: As of 1 April 2018, microenterprises with a share capital more…
Newsletter January 2018
ORDINANCE NO. 3/08.02.2018 OF THE ROMANIAN GOVERNMENT 1. Benefit for employees exempt from income tax In Newsletter 2017/05 we informed that the transfer of employers’ contributions to pension and health insurance from the employer to the employee leads to higher expenditure on pension and health insurance for employees exempt from income tax. In order to compensate for this more…
Newsletter Dezember 2017
THE MINIMUM WAGE ACC. ORDINANCE NO. 846/29.11.2017 OF THE ROMANIAN GOVERNMENT From 1 January 2018, the minimum wage will increase from 1,450 lei to 1,900 lei for full working hours of 166,666 hours per month on average in 2018, or 11,40 lei/hour. The increase in the gross minimum wage represents an increase of 31.03% compared to 2017 and more…
Newsletter November 2017
NEW FISCAL REQUIREMENTS FOR MULTINATIONAL GROUPS OF COMPANIES New fiscal requirements (i.e. notification and / or reporting obligations) in the area of transfer pricing will be imposed on Multinational Enterprise Groups (MNE) operating in Romania and fulfilling certain criteria from the 2017 financial year onwards. These new requirements are a consequence of the transposition of more…
Newsletter September 2017
1. REGULATION NO 23 OF 30/08/2017 CONCERNING THE SEPARATE PAYMENT OF NET PRICE AND TAX ON SALES (SPLIT-PAYMENT-PROCEDURE) Businesses and natural persons liable to VAT are obliged to make a separate payment of net price and VAT as of 1 January 2018. The procedure provides for the opening of a separate VAT account, which is more…