The Romania Official Monitor announced a lot of changes in tax legislation, there are over 100 modifications in the list of “2023 fiscal news” according to specialized websites. We have made a synthesis of the most relevant ones, so you can save time for other activities.
- Profit Tax
The facility for tax exemption of invested profit is extended to investments in assets used in production and processing, as well as assets representing re-technologization. Dividends distributed/paid to privately administered pension funds and/or voluntary pension funds will no longer be tax-exempt.
The new Intrastat value thresholds for 2023 are 1,000,000 lei for goods shipments and 1,000,000 lei for goods introductions. Attention, the methodology of the Intrastat Statistical Declaration has also been updated. Intrastat is the system for collecting statistical data on the trade with goods between Member States of European Union (EU). The Intrastat statistical system is operational at EU level since the 1st of January 1993. More info at http://www.intrastat.ro/mi_en.php
Another 15,000 companies will be obliged from January to submit the D406 statement in SAF-T format, the list of medium taxpayers was updated by ANAF in December 2022.
- RO e-Transport
Also, the RO e-Transport system becomes functional (the initial deadline was postponed) and authorities can apply fines for non-compliance with associated provisions.
- VAT regime
Starting in 2023, the reduced VAT rate of 9% will no longer be applied to alcoholic and non-alcoholic beverages that fall under NC codes 2202 10 00 and 2202 99. For these, the VAT rate of 19% will apply. A VAT rate of 9%, instead of 5%, will be applied for accommodation in the hotel sector, restaurant and catering services. Also, chemical fertilizers and pesticides normally used in agriculture will be taxed at 9%. An “interesting” change is the addition of the tip on the fiscal receipt by operators in the restaurant and bar sector, which however does not include VAT.
The minimum gross salary for the economy becomes 3,000 lei, and starting January 1, 2023, and until December 31, 2023, for employees with a salary of 3,000 lei, 200 lei will be non-taxable under certain conditions. A new method of determining deductions will be applied for calculating income tax on salaries. There will be a basic personal deduction and a supplementary personal deduction. Salary statements will be archived for 5 years (reduction from 50 years).
The main change is that the microenterprise regime becomes optional, and the only tax rate for micro-enterprises is 1% (3% is eliminated), and the maximum income threshold is 500k euros. Consulting and management are excluded from the “micro” regime, and an entrepreneur cannot operate in more than three micro enterprises if they have over 25% participation.
- Fiscal Procedure Code
The administrative file of the fiscal control action is introduced, which will include all the documents and information that form the basis of the budgetary inspection. Companies can request this file.
Also, starting in 2023, the documents requested during fiscal inspections can be sent by taxpayers/payers electronically. Additionally, a compliance notification issued by the central fiscal authority has been introduced in case of fiscal inspection. This notification informs the taxpayer that within 30 days from the date of communication of the notification, they have the possibility to file or correct their tax returns. The fiscal inspection notice will have to include information on the possibility of filing or correcting the tax return for the periods and fiscal claims that will be the subject of the fiscal inspection, before the date the fiscal inspection begins.
- Cash registers and POS terminals
Legal entities that carry out retail and wholesale activities, as well as those that provide services, starting in 2023, that realize cash collections with a value greater than 50,000 lei in a year, are obliged to accept debit, credit or prepaid cards as a means of payment, through a POS terminal and/or other modern acceptance solutions, including apps that facilitate electronic payments.