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1.
Regulation on Private Pension Funds
The Regulation of the Financial Supervisory Authority no. 18/2015 amends Regulation no. 2/2011 on the joining and recording of voluntary pension fund participants.
The amendment consists of granting participants the possibility to suspend, terminate the payment or change its level in accordance with the provisions of the voluntary pension scheme prospectus.
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2.
Ordinance on Legislative Acts on Gambling
The Government Emergency Ordinance no. 42/2015 amending and supplementing legislative acts in the field of gambling adds a series of provisions and amendments, including:
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The administration of the State monopoly is done by the National Office for Gambling;
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The State grants exclusive licence for the organisation of gambling to Compania Nationala “Loteria Romana” S.A. for traditional and remote gambling, ‘Noroc’ and express lottery and scratch tickets;
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The unclaimed winnings from gambling organised by the Romanian Lottery shall make up its revenues, according to the approved game rules.
The Ordinance entered into force on 14 October 2015.
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3.
Order on amending and supplementing Various Accounting Regulations
The Order of the Minister of Public Finance no. 1198/2015 amends article 10 of Order no. 1802/2014 approving the accounting regulations on individual annual financial statements and consolidated annual financial statements, as follows:
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The entities that have chosen a financial year different from the calendar year shall implement the provisions of this Order from the beginning of the first financial year thus chosen starting after 1 January 2015;
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Chapter 13 – “Reporting of payments to governments” within the accounting regulations on the individual annual financial statements and the consolidated annual financial statements is an exception to the aforementioned provisions and, for this, the provisions of this Order shall be implemented starting with the tax year of 2016.
The Ordinance entered into force on 12 October 2015.
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4.
Order on granting the Status of Authorised Economic Operator
The Order of the President of the National Agency for Fiscal Administration no. 2252/2015 approves the technical rules on granting the status of authorised economic operator and repeals, as at the entry into force of this Order, the Order of the Vice-president of the National Agency for Fiscal Administration no. 9647/2007 approving the technical rules on granting the status of authorised economic operator.
This legislative act entered into force on 27 October 2015.
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5.
Order on the Tax Offence Record Management and Organisation Powers of Tax Bodies
Order no. 2594/2015 establishing the tax bodies responsible for organising and managing the tax offence record, the procedure of registration, removal and correction of information in/from the tax offence record certificate, application for, and issue of, the tax offence record, the template and content of the forms required, as well as the appropriate level of access in line with the information in the tax offence record establishes the tax bodies responsible for organising and managing the tax offence record and approves the template and content of the forms in terms of the tax offence record, e.g.:
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500 – Form of registration in the tax offence record;
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501 – Form for tax offence record entry update;
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502 – Application for the issue of a tax offence record certificate;
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503 – Application for the correction of the data entered in the tax offence record;
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504 – Tax offence record certificate and annex to the tax certificate;
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505 – Form of registration in the tax offence record of the joint/patrimonial liability with the debtor;
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506 – Form of registration in the tax offence record of the tax inactivity;
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507 – Form for tax offence record entry update on joint/patrimonial liability with the debtor;
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508 – Form for tax offence record entry update on tax inactivity.
This legislative act also contains the Procedure of registration, removal and correction of the information in/from the tax offence record, application for, and issue of, the tax offence record certificate. It also contains information on the appropriate level of access in line with the information in the tax offence record.
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6.
Order on the Statement on Gambling Revenues
Order no. 239/2015 approving the monthly statement template, in the form of a standard form, for the revenues earned by gambling organisers carrying out gambling activities under article 10, paragraph (1), of the Government Emergency Ordinance no. 77/2009 on the organisation and exploitation of gaming approves the monthly statement template in the form of a standard form for the revenues earned by gambling organisers and provides for its submission on paper or in digital form, with an electronic signature, by the 10th of the month for the previous month.
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7.
Order on the Organisation of an Occasional Draw of the Lottery of Tax Receipts
Order no. 1151/2015 on organising an occasional draw of the Lottery of tax receipts provides for the organisation of an occasional draw on 27 December 2015, in which the tax receipts issued in the calendar period from 1 September to 30 November 2015 participate if they meet the conditions provided for by the Government Ordinance no. 10/2015, and the allocated award fund is RON 1,000,000.
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8.
Law on the Improvement of International Tax Confirmation and FATCA Implementation
Law no. 233/2015 ratifies the Agreement between Romania and the US on improving international tax confirmation and implementing FATCA. FATCA (the US Foreign Account Tax Compliance Act) is a set of legislative provisions in terms of tax, introduced in 2010 to the US legislation and designed to prevent and reduce tax evasion generated by the cross-border activity of US residents.
In applying the provisions of FATCA, the following Romanian financial institutions are covered:
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Credit institutions;
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Custodian institutions;
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Entities for investment;
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Insurance companies.
This law comes into force as of 02 November 2015.