The year 2021 will begin with a series of amendments introduced by Law 296/2020 to amend the Fiscal Code and Law 295/2020 to amend the Fiscal Procedure Code, both published in MOF 1266 of December 21, 2020. Also on December 31, 2020 it was published GEO 226 which postpones some of these measures for 2022.
We propose to address the most important of them, according to the number of individuals and legal entities affected by the changes:
• Although Romania does not yet operate with the concept of Holding companies, the treatment and functionality of the Fiscal Group is clarified with the new version of the law. Starting with 2021, the groups of companies will be able to report and pay a cumulative profit tax at the level of the tax group.
• Gift cards given by a company to individuals who are not in a salary-generating relationship with it are income from other sources and are subject to only 10% income tax.
• Some simplified mechanisms are extended in relation to ANAF: simplified rescheduling of debts, non-execution of debts, allocation of VAT to be reimbursed without control, until March 31, 2021.
• There are a series of measures to reorganize the mode of control, reporting and contestation in relation to ANAF-Fiscal Inspection Service. These measures are intended to clarify the ability of ANAF inspectors to interpret certain legislative issues, as well as to separate and clarify the way in which control acts are challenged:
• The minimum wage on the economy is changed starting with January 1 to 2300 lei, only for the positions that are not included in the base of higher education
• A new telework aid is introduced, amounting to 400 lei / month, to cover the expenses of using housing as a work space.
Find below the measures initially announced for 2021, already circulated online and which will be applied from 2022:
• Increase the VAT ceiling on collection from 2,250,000 LEI to 4,500,000 lei. The deadline for exercising the option is maintained until January 25.
• The ceiling for the purchase with VAT of 5% of the dwellings is increased to the equivalent of 140,000 euros.
• The deductibility of adjustments for impairment of receivables will be granted in the proportion of 100% until 2022. For 2021, the percentage of 30% remains valid.
We also remind you of the verification of the inclusion in the fiscal ceilings valid in 2021 and of the possibility to exercise the option regarding the VAT on collection until January 25th.