The capping of the deductibility of the expenses with assigned debts
Through the Ordnance 25/August 30th, 2017 the lawmaker stipulates that, starting with January 1st, 2018, the expenses representing the value of the assigned debts, pursuant to the law, are deductible under the limit of a ceiling of 30% of their value. The reduction is significant, considering the fact that until December 31st, 2017 these expenses
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The representative office tax from January 1st, 2018
Starting with January 1st, 2018, the representative office of one or more foreign legal persons, authorized for functioning in Romania, pursuant to the law, is obligated to pay an annual tax in amount of 18.000 lei. For representative offices of one or more foreign legal persons incorporated or terminated during a fiscal year, the tax
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The declaration of the branches and of the secondary offices/business units: new changes
The Fiscal Procedure Code was modified with a view to declaring the secondary offices starting with September 3rd, 2017. The term of 30 days previously stipulated was detailed as it follows: The tax-payer/payer is obligated to declare to the central tax authority the setting up of a secondary office/business unit in a 30 days term
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The Split-VAT System: Basic Elements
The opening of a VAT account is mandatory for: All taxable persons registered for VAT who provide services or deliver goods taxable in Romania; Public institutions registered for VAT purposes. The coming into force of this measure: From October 1st, 2017: the split VAT payment can be applied optionally; From January 1st, 2018: it is
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New sanctions for the employers introduced by OUG 53/2017
Starting with August 7th, 2017 new sanctions applicable to the employers were introduced. A 20000 lei fine for: The aceptance for work without the conclusion of an employment agreement.Before the date of the publication of the OUG 53/2017, the acceptance for work of up to five persons without the conclusion of an individual employment agreement
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The drawing-up of the additional deeds to the employment agreements before the occurrence date
OUG no. 53/2017 for the changing and addition of the Employment Code states that the additional deeds to the employment agreements must be prepared before the modification produces effects. This measure is to be appplied starting on Monday, August 7th 2017. Until now, any modification of a basic element during the execution of the individual employment
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New rules regarding the daily record of the working hours – OUG no. 53 of 04.08.2017 for the changing and the addition of the Employment Code
Starting with August 7th, 2017, all employers have the obligation to keep at the workplace the record of the work hours rendered daily by each employee, with the specific mentioning of the starting and the finishing hours of the work schedule. Before August 7th, 2017, it is stipulated that the employer had the obligation to
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The increase of the monthly contribution for the handicap fund – applicable September 1st, 2017
The cancellation of the option of the employers to purchase products and services from the protected units instead of hiring handicapped persons. The increase of the monthly contribution for the handicap fund The employers with at least 50 employees have the responsibility of hiring handicapped persons in a percentage of at least 4% of the
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The child rearing allowance is capped starting with September 2017
The monthly child rearing allowance is capped starting with the month of September 2017, according to the changes introduced by Emergency Ordnance of the Cabinet (OUG) no. 55 of August 4th, 2017 for the changing and the addition of the OUG no. 111/2010 regarding the child raising leave and the monthly allowance for child raising.
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The exclusion from applying the specific tax according to the incomes derived at December 31st, 2016 – applicable from August 1st, 2017
Starting with August 1st, 2017, the companies applying the specific tax (hospitality field) which have cumulated at the end of 2016 incomes between 100.001- 500.000 euro will be entitled to apply the microenterprise tax if they meet the other conditions mentioned by art. 47 of the Fiscal Code as well: ”a) They have derived
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