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The Government Resolution No.159/2016 for amending and supplementing the Methodological Norms of Law no 227/2015 regarding the Fiscal Code, approved by Government Resolution No. 1/2016 brings among other aspects, amendments regarding the calculation of the tax on buildings.
Thereby, the tax on buildings is no longer calculated in accordance with the quality of the individual, but depending of the destination of the building, either residential or non-residential.
In the situation which, the economic agents registered the headquarter of their company in a residential building, than the owner of the building due non-residential tax, calculated in accordance with the article 458 Fiscal Code, for the case the economic agent introduce the utility costs related with the building, in their accountancy. These provisions will not apply if the economic agents does not perform any economical activity, or in the situation in which, although in that building operates economical activity, the utility costs related with will not be included in the accountancy of the economical agent.
According to the law, through utility costs we understand, ordinary costs related with the normal use of the building: electrical energy, natural gas, heating, water supply and so on.
The owner of a mixed building, that is both, non-residential and residential, will be liable to a tax calculated by summing tax for the area used for residential and the tax for area used for non-residential purposes, as is indicated in cadastral documentation.
For the case no comercial activity is performed or an comercial activity is performed, but the utility cost are not settled, the form must be submitted together with an affidavit to the specialized departments of town halls. In this case, the submission of other additional documents as: leasing contract, renting contract, or the certificate of incumbency from Trade Register are no longer necessary.
For the case an economical activity is preformed and the utility costs are settled, the affidavit will be submitted by the owners of the building with one of the following documents:
- receipt protocol for building finalised in the last 5 years, from which to result the value of the building.
- The evaluation report that proves the value of the building after 1 January 2011
- Act of acquire ownership, in case that the building was acquired in the last five years.
The deadline is on 31th May
- The new ordinance increases the upper limit to which firms can be considered micro-enterprises, so they instead of paying the 16% tax they will pay a maximum fee of 3%. Therefore, from 2016, the limit for micro-enterprises increases to 65,000 EUR per year, as turnover at 100,000 EUR.
- The current provisions state that only the expenses incurred for the purpose of obtaining taxable income are deductible.The expenses incurred for business purposes are considered deductible when calculating profit tax.
- The tax on dividend income will be reduce from 16% to 5%
- New conditions regarding obligation of legal entities dissolved through liquidation to declare and pay corporate income tax will be introduce from 1 January 2016. Thus, the period from 1 January of the fiscal year following that in which the liquidation procedure was initiated and the closing date of the procedure is considered to be one fiscal year for the purpose of recovering fiscal losses, and during this period the legal entity payer is not required to declare and pay the quarterly corporate income tax.
- The non-resident entities with their place of effective management in Romania will become Romanian taxpayers.
- The obligation of the buyer to withhold the tax, regarding either income from sale of shares or either transfer of shares held by a foreign legal entity in a Romanian entity, will be eliminated.
- The standard VAT rate will be reduced from 24% to 20% as of January 2016 and to 19% as of January 2017;
- The reverse-charge mechanism will be applied to the supply of buildings, parts of buildings and plots of land of any kind, as well as for the supply of mobile phones, PC tablets, laptops, gaming consoles and devices with integrated circuits;
- Decreasing VAT on drinking water and used water for irrigation to 9% for all services.
- Newly establish companies, if certain conditions are met, will pay a micro-companies tax rate of 1%
- Companies operating in the oil and gas sector have been excluded from the micro-companies regime.
- An income of 1% for micro-companies will have at least two employees.
- An income of 2% for micro-companies will have one employee.
- An income of 3% for micro-companiesthat will not have even one employee.
- Newly establish companies, if certain conditions are met, will pay a micro-companies tax rate of 1%.
Taxation of microenterprises: