Amendments to the Fiscal Code Norms

Amendments to the Fiscal Code Norms

View this page in: Romanian
28 August 2013

Government Decision no. 613 / 2013 amending the Fiscal Code Methodology Norms was published on 22 August 2013.

The most important changes and clarifications are as follows:

I. Profit tax

  • The Fiscal Code Norms provisions have been correlated with the existing provisions of the Fiscal Code on the transposition into national law of EU Directives in the field of direct taxes as a result of Croatia's accession to the European Union on 1 July 2013.
  • Clarifications have been set out regarding the tax deductibility calculation for profit tax purposes, to the limit of the RON equivalent of EUR 400 per year per participant, for contributions made by employers in Romania on behalf of employees to voluntary pension funds administered by authorised entities established in EU member states or the European Economic Area.

II. Personal income tax

  • Contributions paid by employers on behalf of their employees or by the employees directly to voluntary pension funds administered by authorised entities established in EU member states or the European Economic Area are deductible for the purpose of determining the taxable base for salary income within the limit of EUR 400 per year. The deduction of contributions is to be granted only based on the document concerning the qualification of the voluntary pension funds in question issued by the Financial Supervision Authority upon the request of either the employer or the employee, as appropriate.

III. Excise duties

  • CThe maximum levels of the guarantees to be provided by the authorised warehouse keepers have been established, as follows:
    • for ethyl alcohol and alcoholic beverages: EUR 2,000,000;
    • for processed tobacco: EUR 10,000,000;
    • for energy products: EUR 15,000,000.
  • The excise duties classification applicable for products used as heating fuel or motor fuel is performed by institutes or companies that fulfil the requirements provided by the law.
  • Clarifications regarding the reduced level of excise duties applicable for small beer producers have been introduced.

The amendments entered into force on 22 August 2013.

[Source: Official Gazette of Romania no. 528/22.08.2013]

For more information, please contact Peter de Ruiter, Mihaela Mitroi, Ionut Simion and Daniel Anghel.

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