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Extension of tax measures that are beneficial to taxpayers

A recent press release by the Ministry of Finance foresees the extension of tax measures that are beneficial to taxpayers in the context of the pandemic.

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The yellow emergency certificates may also be required for the month of april

June 3, 2020Renata Todoran

News about emergency certificates were published on M.O. 385 on May the 13th.

According to the new provisions, the economic operators who suffered from the effects of the SAR-Cov2 pandemic in april, can benefit from the certificate of emergency TYPE 2 (yellow) situations following the completion of a self-declaration. The statement must indicate that there is a decrease in revenues of at least 25% in March or April 2020 compared to the average for January and February 2020.

But companies now have another statement available to get the certificate of emergency situations. In fact, the new declaration used only adds the month April 2020 (along with March), as the month in which the decrease in income/income achieved is decreased by more than 25% compared to the average income of January-February 2020.

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Deferral of taxes and duties

March 19, 2020Renata Todoran

The current context, triggered by the COVID19 epidemic, is already creating numerous difficulties and challenges for companies, with a new economic crisis on the horizon. The bill on the amendment of certain provisions of the Tax Code to change the payment deadlines for a series of substandard taxes in the next period was presented to the Chamber of Deputies yesterday.

Therefore, the taxes and duties in the bill are:

  • income tax for fiscal year 2019 and first quarter 2020;

  • income tax on micro-enterprises for the first quarter of 2020;

  • payroll taxes and salaries between February and April 2020;

  • Social health contributions related to wages received in the period February-April 2020;

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Dividends may be payed also during the year!

July 19, 2018Renata Todoran

The law permitting the payment of dividends during the year was voted. According to the principle “autumn is a time of harvest “, perhaps from September or October this year we will already be able to reap the “fruits” of the business.

On July 12, the normative act (Law 163/2018) amending the dividend payment procedure was published, which allowes the distribution of the profit between the companies’ shareholders also quarterly, within the limit of the net profit realized after the preliminary filing of an interim financial statement .

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The summary of the legislative changes in 2018

February 15, 2018Renata Todoran

The year 2018 started with a lot of fiscal changes, contained in various normative acts. This is why we are trying to make a brief recap of the legislative changes that take place this year and a reminder of the main checks and declarations to be made at the beginning of the year:

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Legal and fiscal news for 2017

January 26, 2017Renata Todoran

Starting with 2017 a series of legislative changes will take place. Some are applicable from the 1st of January, the others from the 1st of February. We have grouped them in several main categories:

The corporate income tax:

  • The taxpayers engaged exclusively in innovation, research and development activities will be exempted from profit tax in the first 10 years of service;
  • Will be extended the deadline for the tax exemption regarding reinvested profit in technological equipment, computers, electronics and peripheral equipment, and also software.

The income tax for microcompanies

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Last opportunity to pay less taxes for dividends

December 8, 2016Renata Todoran

The changes in the New Fiscal Code are making 2016 the best year for withdrawing dividends. The dividend tax was reduced from 16% to 5%. It is possible to benefit of this opportunity only in 2016.

If you haven`t already did it, you can still benefit from this tax relief only in December this year.

The only condition that must be fulfilled in order to pay only taxes rate of 5% is that the shareholder must obtain also other income for which he already pays the health insurance contribution. Therefore:

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