ERNST & YOUNG SRL

  |  18.07.2017

Legislative summary No. 6

- Amendments brought to the Tax Code - Amendments brought to the Tax Procedure Code - Accounting regulations - Miscellaneous

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Amendments brought to the Tax Code

 

Order no. 409/2017 regarding the qualification as software development activity, published in the Official Gazette

no. 468/22 June 2017

 

Please refer to Tax Alert no. 13/June 2017 for more details.

 

Law no. 136 approving Emergency Ordinance no. 32/2016 for completing Law no. 227/2015 regarding the Tax Code and regulating certain financial and tax measures, published in the Official Gazette no. 440/14 June 2017

 

The Emergency Ordinance introduces new articles in the Tax Code regarding:

Tax exemption for research and development (“R&D”) activities, whereas the following conditions are introduced:

- it is granted to all persons who are included in theteam of a R&D project with defined results indicators;

- it is granted within the limit of the costs for the staff assigned to the R&D project, as shown separatelyin the budget of the project;

- the payroll of the salary income received by each employee from activities carried out in in the Research & Development project shall be drawn up separately for each project.

 

Exciseduties

- specific exemption from the non-harmonized excise regime applicable to certain heated tobaccoproducts (falling under NC code 24039990);and

- special refunds for the above mentioned heatedtobacco products.

 

Amendments brought to the Tax Procedure Code

 

Government Emergency Ordinance no. 42/2017 for amending and completing the Law no. 207/2015 regarding the Tax Procedure Code for implementing the mandatory automatic exchange of information on the country-by-country report, published in the Official Gazette no. 438 / 13 June 2017

 

The Emergency Ordinance provides for amendments of the Tax Procedure Code so as to implement the mandatory automatic exchange of information on the country-by-country report, following the adoption of Council Directive (EU) 2016/881 of 25 May 2016 amending Directive 2011/16/EU as regards mandatory automatic exchange of information in the field of taxation.

 

The Emergency Ordinance enters into force at the date of publication in the Official Gazette (13 June 2017) and transposes the Council Directive (EU) 2016/881, without making significant changes.

 

Please refer to Transfer Pricing Alert from June 2017 for more details.

 

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