ANAF president Order no. 1 1994/2012 (“the Order”) published on 7 January 2013 provides the template and the content of return 012 - “Notification regarding changes to the annual / quarterly system of declaring and paying profit tax”.
The annual profit tax reporting system (as detailed in our Tax and Legal Alert no. 32 dated 6 October 2011) is applicable as of 1 January 2013. Taxpayers can submit return 012 to notify the tax authorities of the transition from the quarterly to the annual system.
The notification deadline is 31 January of the fiscal year for which the taxpayer requests to apply the annual system.
Once the option to apply the system is taken, it has to be kept for at least two consecutive fiscal years.
The Order enters into force on 7 January 2013. It includes the standard template of return 012 and instructions for filling it in.
[Source: Official Gazette of Romania no. 09/7 January 2013]
For more information, please contact Mihaela Mitroi, Peter de Ruiter, Ionut Simion and Daniel Anghel.
Country Managing Partner, Romania
Tel: +40 21 225 3708