The Government approved, on Thursday, a draft amendment and supplement to the Fiscal Code, which transposes into national legislation some provisions of the European Directive on the common system of Value Added Tax, provisions that are expected to apply from January 1, 2024.
"The regulatory act transposes into national legislation some provisions of the European Directive on the common system of Value Added Tax, provisions that are expected to apply from January 1, 2024.
Thus, the provisions regarding the deadline for submitting declarations related to the special regimes provided for in art. 314, 315 and 315^2 of the Fiscal Code are clarified, expressly establishing the last calendar day of each month, even if it is a non-working day. The current version of the Fiscal Code provides that these declarations may be submitted by the end of the following month after the end of the fiscal period covered.
Thus, situations are avoided in which, although the declaration related to the special regimes provided for in art. 314, 315 and 315^2 of the Fiscal Code was submitted within the deadline, according to Romanian legislation, there was the possibility that, according to the legislation of the Member States of consumption, the respective deadline would be considered to have been exceeded, and the taxable person applying the special regime in Romania would be subject to interest and penalties for exceeding the submission and payment deadlines, respectively, by the Member States of consumption.
At the same time, it is proposed to repeal the provisions regarding the possibility of designating an authorized tax representative in the case of certain categories of imports into Romania of goods that have been transported from a third territory.
For excise duties applied to the production of natural gas used for technological purposes, provisions similar to those applied to electricity are introduced.
The transposition of this directive into national legislation will have a favorable impact on the business environment, because, by keeping records of cross-border payments by payment service providers and making them available to tax authorities, they will have more information to detect VAT fraud in the e-commerce sector and to collect additional VAT", a Government statement states.
