The Reference Interest Rate

Starting from the 1st of April, the NBR reference interest rate is 2%/year, down by 0.25% from the previous applicable rate (2.25% a year). Circular no. 12/2015 on the reference interest rate of the National Bank of Romania ¹

The Approval of the Procedure for ex officio Establishment of Taxes

This Order amends and supplements the procedure for the ex officio establishment of self-taxation or withholding taxes and contributions. This Order adds a new paragraph: “The decision of ex officio taxation is also abrogated based on the initiative of the tax authority, according to Article 90, paragraph (2), of the Tax Procedure Code. The findings of the tax authority shall be noted in the Report on the ex officio taxation” and amends the forms “Report on the ex officio taxation” and “Decision of abrogation of the ex officio taxation decision”.

Order no. 837/2015 amending and supplementing the Order of the President of the National Agency for Fiscal Administration no. 3.392/2011 approving the Procedure regarding the ex officio establishment of self-taxation or withholding taxes and contributions ²

Amendments of the Tax Code

This Ordinance amends and supplements the tax legislation. In this respect, please note the main aspects below:

• The extension of the enforcement of the reduced 9% VAT rate to the supply of food and restaurant and catering services, excluding alcoholic beverages;
• Clarifications on the income tax applicable to income derived from property rental in case of termination, during a tax year, of the leases between the parties when the rent is the equivalent in RON of a sum in foreign currency;
• The introduction of new provisions relating to the tax treatment applicable to interest obtained in Romania by resident legal entities in another Member State of the European Union or the European Economic Area, in the sense that the non-resident legal person may opt for the adjustment of the withholding tax by declaring and paying the corporate tax according to the specific rules of the latter;
• The introduction of new provisions relating to the tax treatment applicable to independent income derived in Romania by resident individuals in another Member State of the European Union or the European Economic Area, in the sense that the non-resident legal person may opt for the adjustment of the withholding tax by declaring and paying the income tax according to the specific rules of the latter.

Emergency Ordinance no. 6/2015 amending and supplementing Law no. 571/2003 on the Tax Code ³

The Approval of the Form “Re-checking Decision”

Both the format and content of the form “Re-checking Decision” and the instructions for filling out and using the form have been approved. Please remember that in accordance with the provisions of the Tax Procedure Code the re-checking for a certain period can be performed following the decision of the head of the tax inspection, in case additional data appear which were not familiar to the tax inspectors at the time of the original inspection, data which are likely to influence the results of the previous tax inspection.

Order no. 863/2015 approving the format and content of form “Re-checking Decision” ⁴

The Approval of the Forms for declaring Self-taxation Taxes

This legislative regulation approves the format and content of the forms used for declaring self-taxation or withholding taxes. Thus, it correlates the reporting obligations with the applicable law on gambling.

Order no. 838/2015 amending the Order of the President of the National Agency for Fiscal Administration no. 1.950/2012 approving the format and content of the forms used for reporting the self-taxation or withholding taxes ⁵

Amendments on the Taxation for Sums received in Cash

This Ordinance approves the regulations on the taxation for the extra sums received as tips.

To that effect, clarifications have been added regarding the sums that are tips and the offences that could be applied in case of non-compliance with the regulations of this Ordinance.

Furthermore, there are additional mentions on the employees’ obligation to declare the sums held at the beginning of the working hours, in a “Register of personal money”, the same as the amount of the fines applicable in cases of unjustified sums of money.

The Emergency Ordinance no. 8/2015 amending and supplementing some legislative acts ⁶

The Adoption of Tax Regulations

This legislative act approves the Ordinance in connection with the following amendments:

• General rules for determining the annual net income from independent activities, determined based on an actual income system based on the data from the accounts;
• The possibility of determining the annual net income by using the data from the accounts;
• Regulations on the place of provision of certain services and clarifications on the obligation to submit the VAT return and to pay it; Changes in terms of the level of the excise duties;
• Changes impacting on the health reform.

Law no. 77/2015 approving the Government Emergency Ordinance no. 80/2014 amending and supplementing Law no. 571/2003 on the Tax Code and other legislative acts ⁷

The Approval of the Work Schedules for Economic and Financial Inspections

The model for the work schedule for the economic and financial inspection body has been approved. The annual work schedule for the economic and financial inspection body presents the following as a minimum: the entities where the inspection is carried out; the inspection actions and the period of the inspection.

This Order mentions the obligation of the economic and financial inspection structures to comply with the procedure of selection of the economic operators to be included in the work schedules based on the risk analysis.

Order no. 447/2015 on the model, content and conditions for the approval of the work schedules for the economic and financial inspection body ⁸

The Approval and Content of the Form “Records of Findings and Penalties for Offences”

The format and content of the standard form “Records of Findings and Penalties for Offences” used by the staff of the National Office for the Prevention and Control of Money Laundering with inspection powers have been approved.

Order no. 71/2015 approving the format and content of the standard form “Records of Findings and Penalties for Offences” and its printing features ⁹

The Law on Cash Receipts and Payments

The legislative act on payments in cash has been published. It was presented as flash news on 15.04.2015.

Law no. 70/2015 strengthening the financial discipline for the receipts and payments in cash and amending and supplementing the Government Emergency Ordinance no. 193/2002 on the introduction of modern payment systems ¹⁰

The Approval of the Regulations on the Simplified Export Procedure

The legislative act approves the implementing Regulations for the authorization of exporters in view of the issue, as part of a simplified procedure, of proof of preferential origin under the agreements governing preferential trade between the European Union and partner countries. This Order also authorizes A.TR. certificates, which certify the status of goods in free circulation.

Order no. 654/2015 approving the implementing Regulations for the authorization of exporters in view of the issue, as part of a simplified procedure, of proof of preferential origin under the agreements governing preferential trade between the European Union and partner countries, as well as the A.TR. certificates, which certify the status of goods in free circulation in the EU-Turkey Customs Union ¹¹

Amendments of the Excise Duties for Diesel Oil

This legislative act approves the Ordinance regulating the start, as of 1 April 2014, for the transport of goods and passengers, of a differentiated excise duty level of EUR 40/1000 litres compared to the standard level.

Emergency Ordinance no. 14/2014 supplementing Article 176 of Law no. 571/2003 on the Tax Code ¹²