The government approved on last Thursday a draft act amending and supplementing the Tax Code, which transposes into national law certain provisions of the European Directive on the common VAT system, and which would apply from January 1, 2024."The provisions regarding the statement submission deadlines for the special regimes provided for at Art. 314, 315 and 315^2 of the Tax Code are clarified, as the last calendar day of each month is expressly established for this, even if it is a non-working day. The current version of the Tax Code stipulates that these statements can be submitted until the end of the following month, after the end of the reporting fiscal period," the Executive said in a release.The government mentions that this way, situations will be avoided where although the statement required for special regimes was duly submitted according to Romanian legislation, there was a possibility for it to be considered overdue according to the legislation of the consumer member states, and the taxable person subject to a special regime in Romania be charged interest and penalties.Also, the regulatory act repeals the provisions regarding the possibility of appointing an authorized tax representative in the case of certain categories of imports brought to Romania from a third territory."For the excise duties charged on the production of natural gas used for technological purposes, provisions similar to those applied to electricity are introduced," the release states."The transposition of this directive into national law will have a favorable impact on the business environment, because, as payment service providers keep records of cross-border payments and make them available to the tax authorities, the latter will have more information to detect e-commerce VAT fraud and to collect additional VAT," the government said.
The shares of four other companies listed on the Bucharest Stock Exchange (BVB) will be included in the MSCI Frontier, MSCI Romania, MSCI Frontier IMI and MSCI Romania IMI. Romania will thus have 30 listed companies part of the MSCI indices as of June 1, 2024. The shares of telecom group Digi Communications (DIGI)...
DP World announced on May 15 the opening of three new sites in Romania, following total investments of over EUR 130 million. The company said the projects aim to provide “a significant boost to the country’s growing status as a key hub of European trade.” Thus, Constanta, the largest container port on the Black Sea, […]
Measuring the confidence of Romanian managers and entrepreneurs in the local economy for over 4 years, the results of the 10th edition of the CONFIDEX study highlight the optimism, resilience, and adaptability of the Romanian business environment. According to the CONFIDEX study from the first semester of this year, the proportion of managers who declare […]
Alternative investment fund BT Property said on May 15 that it acquired Funshop Park Turda, Cluj county, from the Polish group Scallier. The transaction marks the fund's entry into the retail market, where it aims to expand. Funshop Park Turda retail park has over 9,000 sqm of leasable area and BREEAM-certified buildings, according to international standards. BT Asset […]
Attractive Romania/România Atractivă was launched this week with the aim of offering local and foreign tourists a new tool to explore the country. The multimedia platform includes 12 thematic routes in 35 counties, listing 275 landmarks to discover. The program, with a value of over RON 36.3 million, is part of the National Recovery and Resilience […]
It’s a packed agenda this week, with film festivals, art and jewelry fairs, events for foodies, the start of the light and music show at Bucharest’s Unirii fountains, and an anniversary but slimmed-down edition of the Night of Museums. The public in Iași can attend the events of the Romanian Creative Week, while theater fans […]
