ERNST & YOUNG SRL

  |  17.08.2017

Legislative summary No. 7

In this issue: - Amendments brought to the Tax Code - Income Tax - International Tax - Accounting regulations - Miscellaneous

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Amendments brought to the Fiscal Code

 

Law no.177/2017 for the approval of the Government Emergency Ordinance  no.  3/2017  for  amending  and  completing  Law   no. 227/2015 regarding the Tax Code, published in the Official Gazette no. 584/21 July 2017

 

Ordinance  no.  4/2017  for  amending   and   completing   Law no. 227/2015 regarding the Tax Code, published in the Official Gazette no. 598/25 July 2017

 

Please refer to Tax Alert no. 16/July 2017 for more details.

 

Income Tax

 

Approval of the List of independent activities for which the net income can be determined based on annual income quotas

 

Order of the Ministry of Public Finance no. 925/2017 on the approval of the List of independent activities for which the net income can be determined based on annual income quotas, activities performed by taxpayers who derive income from production, trade and services, published in the Official Gazette no. 519 of 4 July 2017

 

Order no. 925 of the Minister of Finance approves the List of independent activities for which the net income can be determined based on annual income quotas - activities performed by tax payers who derive income from production,trade and services.

 

Amendment of Law no. 279/2005 regarding workplace apprenticeshipandLawno.335/2013regarding internship for higher education graduates

 

Law no.164/2017on the amendment of the Law no.279/2005on workplace apprenticeship and Law no.335/2013 on internship for higher education graduates, published in the Official Gazette no. 544 of 11 July 2017

 

The Romanian Parliament adopted the Law no. 164/ 2017 which ammends Law no. 279/2005 regarding workplace apprenticeship and Law no. 335/2013 regarding internship for higher education graduates.

 

Amongs other, the new Law amends the incentives received by employers, as such:

 

-         1,125 RON/month for the entire period of the apprenticeship contract, granted from the unemployment fund, within the allocated limits for thispurpose;

-         1,350RON/month for the entire period of the internship contract, granted from the unemployment fund, within the allocated limits for this purpose.

 

The ongoing apprenticeship and internship contracts signed under the provisions of Law no. 279/2005 and Law no.335/2013 will take effect until their termination date, based on the legislation in force upon their conclusion.

 

Amendment of Law no.76/2002 regarding the unemployment insurance system and employment growth

 

Law no. 172/ 2017 on the approval of Emergency Ordinance no. 60/2016 for amending Law no. 76/2002 regarding the unemployment insurance system and employment growth, published in the Official Gazette no. 576 of 19 July 2017

 

 

The Romanian Parliament adopted the Law no. 172/ 2017 on the approval of Emergency Ordinance no.60/2016 for amending Law no. 76/2002 regarding the unemployment insurance system and employment growth.

 

The law extends the “NEETyouth”concept to individuals up to 25 years of age law.

 

Also,the law amends the legal framework interms of the benefits granted by the State for the employment growth,such as the employment  allowance  granted  (one-off)  to  individuals     who domicile in or move to areas included in the National Mobility Plan, including also Romanian nationals who exercised their free movement right as workers within EU and EEA for at least 36 months and return to Romania, intending to establish themselves in suchareas.

 

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