The presidential decree extending the state of emergency was signed yesterday, 14th April, by the President of Romania. Thus, starting with 15th of April 2020, the state of emergency is prolonged with 30 days.
Also, in the actual context, a new press release was published by the National Agency for Fiscal Administration. In addition to the tax incentives brought by Emergency Government Ordinances no. 29/2020 and no. 33/2020, the fiscal authorities are now implementing a new series of measures, as follows:
- • Extending the VAT refund process with subsequent tax audit;
- • The deadline for submitting the annual financial statements for FY 2019, respectively the annual accounting reporting at 31st of December 2019 is extended up to 31st of July 2020 inclusive;
- • Micro-enterprises performing sponsorship actions for the benefit of public institutions or for other public authority bodies may enjoy the tax credit based on the sponsorship agreement, without the requirement for the beneficiary to be registered in the Registry of sponsorship beneficiaries;
- • HORECA taxpayers will not owe corporate income tax for the period when their activity was totally or partially interrupted during the state of emergency. As soon as the above mentioned measures are published in the Official Gazette, we will revert with additional information.
Any presented information is general and is not meant to address the specific conditions of a particular individual or legal person. Although we try to provide accurate and up-to-date information, there is no warranty that such information is accurate at the time of its receipt or that it continues to be accurate. No action should be taken based on this information without relevant professional assistance following a careful examination of the circumstances that are typical of a particular state of affairs.
