Theme: Executive Meeting from 24.06.2008
Today, the Government has adopted, whereby an Emergency Ordinance, the amendment and completion of Law 571/ 2003 on the Fiscal Code
The operated amendments aim at correlating the Romanian legislation with the European one, thus:
1. The regime of imposing dividends on companies residing in the EU member states
As of January 1st, 2009, the quota of dividends imposing for non - resident legal entities decreases from 16% to 10%. Resident and non - resident legal entities will pay as of January 1st 2009 a 10% quota, assuring thus an equality of fiscal treatment.
2. Fiscal regime enforceable to field cars from internal output
As of January 1st, 2009, the discriminatory character of taxation for field cars, irrespective of the product origin is removed. The taxes will be levied according to the cylindrical capacity of cars at the level stipulated by the current law.
3. In the field of profit tax -the period for the fiscal loss recovery increases from 5 to 7 years for the fiscal loss as of 2009. The Government has taken this measure taking into account that there are activity fields in which the setting up and the development of a business needs a longer period until the registration of the exploitation revenues
4. In the field of income tax - As the state titles and bonds issued by territorial - administrative units are instruments of governmental and local public debt, the Government decided that their related interest and the revenues obtained further to taxation should become non - taxable revenues. Thus the public debt expenses will grow.
1. The regime of imposing dividends on companies residing in the EU member states
As of January 1st, 2009, the quota of dividends imposing for non - resident legal entities decreases from 16% to 10%. Resident and non - resident legal entities will pay as of January 1st 2009 a 10% quota, assuring thus an equality of fiscal treatment.
2. Fiscal regime enforceable to field cars from internal output
As of January 1st, 2009, the discriminatory character of taxation for field cars, irrespective of the product origin is removed. The taxes will be levied according to the cylindrical capacity of cars at the level stipulated by the current law.
3. In the field of profit tax -the period for the fiscal loss recovery increases from 5 to 7 years for the fiscal loss as of 2009. The Government has taken this measure taking into account that there are activity fields in which the setting up and the development of a business needs a longer period until the registration of the exploitation revenues
4. In the field of income tax - As the state titles and bonds issued by territorial - administrative units are instruments of governmental and local public debt, the Government decided that their related interest and the revenues obtained further to taxation should become non - taxable revenues. Thus the public debt expenses will grow.
