Last updated: 15 January 2015
Firstly, WE WISH YOU A HAPPY NEW YEAR, full of success, prosperity and health!
2015 has finally arrived... We resume our column with an article on the latest amendments brought to tax law, given that this domain is permanently under change.
The latest modifications regard, on one hand, the obligation of economic operators to use electronic memory cash registers (as provided by Emergency Ordinance no. 91/2014, published in the Official Journal no. 966 of November 30, 2014) and, on the other hand, the adoption by, Emergency Ordinance no. 92/2014, of a new taxation system applicable to gambling (published in the Official Journal no. 957 of December 30, 2014). These changes are presented to you hereinafter.
OBLIGATION OF ECONOMIC OPERATORS ELECTRONIC MEMORY CASH REGISTERS
In order to fight against tax evasion, the Romanian Government established traders’ obligation who receive payments made in cash or by credit card for their products or services to use electronic cash registers, replacing paper roll cash registers.
Thus, electronic cash registers send data on receipts to the tax authorities... Nevertheless, the procedure shall be regulated in detail only after the adoption of the implementing regulations of the Ordinance.
However, this obligation does not apply to traders obtaining income from occasional trading of agricultural products in markets or other authorised public places, from selling newspapers and magazines, public passenger transportation or from selling fixed-value tickets: show, museum, exhibition, library tickets etc.
The Government gave companies a deadline in order to comply with the provisions of this Emergency Ordinance.
Thus, major taxpayers shall be obliged to use electronic cash registers starting from April 1st , 2016. Medium taxpayers shall have this obligation as of July 1st , 2016 and small taxpayers, as of November 1st , 2016.
Such cash registers will be sold by authorised distributors, who shall also be required to provide after-sale services.
Economic operators must issue fiscal receipts comprising their VAT number and provide invoices to clients, upon request thereof.
TAX ON INCOME OBTAINED FROM GAMBLING
Until now, incomes under 600 lei obtained from gambling were tax exempt.
From now on, as per Ordinance no. 92/2014, amending the Fiscal Code, all incomes under 15,000 Euros obtained from gambling are subject to a 1% tax. Incomes exceeding 15,000 Euros are subject to a 16% tax, whereas incomes exceeding 100,000 Euros are subject to a 25% tax.
On the other hand, tax for incomes obtained from online gambling is not withheld, but taxpayers are obliged to declare the amounts they gained and to submit to the tax authorities a statement certifying the incomes obtained from gambling. Such statement must be submitted no later than May 25 of the year following the receipt of the income. Thus, the tax authority shall issue a taxation decision, establishing the tax to be paid by the taxpayer.