FiNNEWS Legislative, no.7, 2017
- Tuesday, 4 July 2017
- Norms regarding the insolvency of individuals
- Modification of the Fiscal procedure code
- Modification of the Fiscal Code
- Approval of the correction procedure for the errors include in annual financial statements and annual accountant sheets
- Tax exemption for programmers
- Admission of the expenses with private exchanges
- Verification of personal fiscal situation
Norms regarding the insolvency of individuals
It is issued the Government Resolution no. 419 of 9th of June 2017 for the approval of the Methodological Norms for the application of Law no. 151/2015 regarding the insolvency procedure of individuals.
The norms have as object the determination of the way in which the provisions of Law no. 151/2015 regarding the insolvency procedure of individuals are applied, regarding way in which the conciliation meetings are developed, and also the communication manner with the debtor and creditors, the types of fees for the procedure administrator and for the liquidator, and also the minimum and the maximum amount of these fees.
The norms will enter in force together with the law, on 1st of August 2017.
Modification of the Fiscal Procedure Code
Through the OUG (Government Emergency Ordinance) 42/2017 series of modifications and integrations are brought to the Fiscal Procedure Code generated by the necessity of the transposal and implementation in the internal legislation of the Directive (EU) 2016/881 of the Council of 25th of May 2016 modifying the Directive 2011/16 as far as it concerns the mandatory automatic exchange of information in the fiscal field.
A parent company of a group of multinational companies with the fiscal residence in Romania has the obligation to file a report for each country, for each reporting fiscal year, within 12 months from the last day of the reporting fiscal year.
The report for each country has to include the following information regarding the group of multinational companies:
a) Aggregated information regarding the incomes amount, profit/losses before the taxation, declared capital stock, unshared profit, number of employees and tangible assets;
b) Identification of all the entities members of the group of multinational companies.
Modification of the Fiscal Code
Through the Law 136/2017 it is modified the paragraph 3 of the article 60, as far as it concerns the exemption of the salary tax for the individuals carrying out an activity of research-development and innovation, therefore, these individuals benefit from the exemption under the following conditions:
• the exemption is granted for all the individuals included in the team of a research-development and innovation project with defined result indicators;
• the exemption is granted within the limit of the expenses with the staff allocated to the research-development and innovation project, separately highlighted in the project budget;
• the payroll associated to the incomes from salaries of assimilated to the salaries, obtained by each employee from the activities carried out in the research-development and innovation project, is drawn up separately for each project.
As far as it concerns the procedures for marking the excisable products, stipulated by art. 423, they have been integrated with mentions regarding the stamps application:
« 423(3) The authorized ware housekeeper, the registered recipient or the authorized importer has the obligation to make sure that the bands are applied in a visible place, on the individual package of the excisable product, so as the opening of the package should damage the band, and the stamps should be applied in a visible place on the individual package of the excisable product, so as the stamp could no be removed from the package without being damaged. »
Approval of the correction procedure for the errors included in annual financial statements and annual accountant sheets
It is issued the Order no. 894 of 16th of June 2017 regarding the integration of the Order of Public Finances Minister no. 450/2016 for the approval of the research procedures for the errors included in annual financial statements and annual accountant sheets submitted by economic operators and legal people without patrimonial purpose.
It is integrated the list of errors that can lead to the correction of annual financial statements and annual accountant sheets with the following situations:
• Erroneously filling the sole registration code of the reporting entity;
• Erroneously filling the indicators reported through the form « Balance/Statement of assets, debts and own equities», if the value of these indicators can be proved by other documents (for example, articles of incorporation, agreements, etc.), and this aspect is included in the affidavit.
Tax exemption for programmers
Through the Order of Public Finances Minister no. 703 of 16th of May 2017 regarding the insertion in the activity of creation of computer programs in the economic operators’ object of activity (NACE code 5821, 5829, 6201, 6202, 6209), starting from the incomes associated to month of July 2017, there are partially modified the conditions for the granting of tax exemption for the incomes obtained as a result of the development of the activity of creation of computer programs.
Therefore, it was reintroduced the condition that the employer should have obtained in the previous year, incomes from the activity of creation of computer programs in an amount of minim euro 10,000 for each employee benefitting from the tax exemption; the companies set up during the fiscal year are excepted from the accomplishment of this conditions for the year of set up and for the following fiscal year.
The exemption is granted if the following conditions are accomplished cumulatively:
• The positions for which the individuals are employed correspond to the list of occupations mentioned in the appendix to the order;
• The position is part of a computer-based specialised division, highlighted in the employer’s organisational chart, as for example: management, department, office, service, division or similar;
• The employees have a diploma granted after the completion of a long term superior form of education or have a diploma granted after the completion of the 1st cycle of bachelor’s degree university studies, issued by an accredited superior educational institution, and carry out exactly one of the activities stipulated in the appendix;
• The employer obtained in the previous fiscal year and separately registered in the analytical balances incomes from the activity of creation of computer programs designed for the marketing;
• The above annual incomes have a minimum value of the equivalent in lei of euro 10,000 (calculated at the medium exchanged rate communicated by the National Bank of Romania, associated to each month when the income was registered) for each employee benefitting from the income tax exemption.
• The tax exemption for the incomes obtained from salaries is granted for individuals inserted in the following activities:
• Database administrator;
• Computer-based system engineer;
• Software system engineer;
• Computer-based project manager;
• Computer-based systems designer;
• Computer-based system programmer.
• The exemption support shall be made based on the following documents:
• Articles of Incorporation, for economic operator;
• Employer’s organisational chart;
• Job description;
• Copy with the mention “certified true copy” of the diploma granted after the study completion in the long term university education, accompanied by the copy with the mention “certified true copy” of the transcript record or, if applicable, of the diploma supplement;
• Copy with the mention “certified true copy” of the individual labour contract;
• Payroll drawn up separately;
• Internal Order;
• Analytic balance.
Admission of the expenses with private exchanges
The individuals can dispose of the destination of a certain amount representing up to 2% from the salary tax or from the pension tax in order to support some non-profit entities which are set up and function according to the law, some cult units, and also in order to grant some private exchanges, according to the law.
Based on the documents submitted by the taxpayers (form 230, agreement regarding the granting of private exchanges, documents certifying the exchange payment) and based on the data from the fiscal evidence, the fiscal body established the expenses accepted with the private exchanges, within the limit of 2% from the annual income tax from salaries and/or pensions, by issuing the Decision regarding the determination of the expenses accepted with private exchanges.
Furthermore, through the OPANAF no. 1718/2017 there have been updated the legal grounds, the submission term of the complaint and there has been introduced in the content of the decision, the information regarding the payment method of the differences resulted as a consequence of its modification.
Verification of personal fiscal situation
The fiscal body competent for the exercise of the verification of personal fiscal situation and of its preliminary activities, on the entire territory of the country, is the General Directorate for the control of individuals’ incomes.
According to the Order of the President of National Agency of Fiscal Administration no. 1817/2017 , new duties have been introduced. This way, there are competent for the development of the activity of verification of personal fiscal situation and of the activity preliminary to the documentary fiscal verification, the fiscal inspection bodies within territorial fiscal organs on which jurisdiction the fiscal residence of the verified individuals is, the cases selection being carried out from the lists made available by the General Directorate for the control of individuals’ incomes.
The fiscal inspection bodies are also competent for carrying out some punctual risk analyses for the cases of individuals identified with a possible fiscal risk on the occasion of own activities of fiscal control, and also for the selection, documentary preliminary fiscal verification and verification of personal fiscal situation of those individuals.