On 15 May 2019, the European Court of Justice published a ruling in the case of Vega International. This case is likely to, once again, create considerable uncertainty regarding the VAT treatment of fuel supplies carried out using fuel cards. The ECJ has reclassified the supplies and now regards this form of transaction as a […]
The 10,000 € threshold for e-services entered into force on 01/01/2019. In principle, the place of supply of telecommunications, broadcasting and electronically supplied services to non-taxable persons is in the Member State of the customer. However, as from 01/01/2019, the place of supply may be in the Member State of the supplier where notably these […]
Romania’s Chamber of Deputies (lower house of Parliament) on July 9 approved the amended draft of a law on the taxation of offshore oil and gas production. The legislation was initially amended and approved by the Senate on February 12. It still requires the president’s signature before its measures will enter into force. Under the […]
According to Order no. 3604/2015 for the approval of guidelines for the correction of material errors in Value Added Tax returns, VAT returns submitted by taxable persons registered for VAT purposes can be corrected for material errors by the competent fiscal authority: at its initiative; at the request of the taxable person; The fiscal authority […]
Starting Thursday, May 17th, any natural person who realizes income from economic activities or other categories of income, has the possibility to declare them online via the Master pdf form available on the Virtual Private Space, N.A.F.A. advises. “The form automatically realize the computation on the amount of taxes and contributions due by individuals to […]
In accordance with earlier cases relative to A-B-C transactions, the ECJ ruled that the first sale (by A) may not be zero-rated where C may dispose of the goods in the Member State of departure before the intra-Community transport takes place. The Court even goes a step further: where C may dispose of the goods […]
The EU has announced the removal of eight jurisdictions from its tax blacklist. On January 23rd, the European Council agreed to delist Barbados, Grenada, South Korea, Macao, Mongolia, Panama, Tunisia, and the United Arab Emirates. These jurisdictions are being moved to a separate category of jurisdictions, and will be subject to close monitoring. The Council […]
Markus J Beyrer, Director General of Business Europe, has expressed concerns about the proposed introduction of a European Union turnover tax on digital businesses.On September 21, the European Commission launched a new agenda to ensure that the digital economy is taxed “in a fair and growth-friendly way.” This could lead to the announcement of new […]
The European Commission is set to release a report this week on corporate tax reform. According to news reports, it will recommend that the European Union make unilateral changes to the way its members tax large international companies. If these reports are accurate, European leaders should reject the report’s proposals. Unilateral action would shackle Internet companies in […]
During the autumn meeting of the VAT Club, held on the 22nd of September in Vienna who was attended by our VAT Partner Raluca Tutu, one of the main topics of discussion was the ruling of the EU Court of Justice on Aviva case, which brought to much rumours and chaos within Cost Sharing Groups. […]
In brief Government Ordinance no. 30/2017 for amending and supplementing Law no. 207/2015 on Fiscal Procedure Code was published in the Official Gazette no. 7082017. In detail Government Ordinance no. 30/2017 amends and supplements Law no. 207/2015 on the Fiscal Procedure Code. The most significant changes are detailed below. The obligation to present documents in […]
So, what does the Government Ordinance bring new? First of all, a new partial deductible expense was added to the list for computing the corporate income tax. Therefore, you can now deduct the expenses with alienated debts within 30% of the value of these debts. The income from independent actives was redefined to include all […]
Recent concerns have arisen from several Member States that the current common fiscal marker used for industrial fuel is easy to remove and that it causes massive losses of tax revenues. These concerns come in the context of the EU legislation that allows Member States to levy lower tax on fuel used for heating, in […]
Moreover, on June 9th, 2017, Romania adopted Law no. 124 through which it became an associate member of the OECD’s BEPS plan, thus becoming part of the group of countries aimed at discouraging aggressive tax practices and limitation to total elimination of the processes of erosion of the tax base and / or the artificial […]
Causes and effects of tax evasion The tax evasion is determined by the action of various factors, the most important being: the existence of tax legislation with gap, inconsistences, ambiguities, flaws and repeated changes; misunderstanding of the tax authorities of the reasons that determine the tax payer to evade the tax system; the existence of […]
Moreover, there will be a database through which tax authorities within the Member States of the European Union will exchange this information every three months. Thus, the information will warn them in advance of the new risks of circumvention of tax obligations. In this respect, all categories of direct taxes, including income, profit, capital gains […]
In 2017 a new Government was elected and, of course, the Tax Reform had to continue. The different perspective of the new Governance brings in the spotlight the individual income taxation. There is no doubt that in the last month the hottest and trendiest subject was the income on household. Modeled by the ‘American Dream’ […]
The initiative is also seen as a mechanism of tax deductions for households, as currently the Romanian Fiscal Code does not include the concept of household or of family, as it is in oher countries. Currently, there are attempts to redefine these concepts in fiscal terms. In countries as Germany and France, where the maximum […]
to transpose a series of tax treaty measures from the OECD/ G20 BEPS Package into existing bilateral and multilateral tax agreements and to set a new standard for mandatory binding arbitration in relation to resolving double tax disputes. Implementation of the October 2015 Final BEPS Package requires changes to the OECD and United Nations (UN) […]
Based on the latest governance programme, one of the Government’ s objective is to reduce taxpayers’ excessive administrative tasks, therefore ANAF has analyzed and decided the removal of the 088 statement. In order to avoid blocking the activity of taxpayers’ registration for VAT purposes and ensuring their further economic activity, the repealing order regarding the […]