On the positive side, the minimum wage in economy will increase by 14.3 pc and, starting July 1, it will advance from RON 750 to RON 800. Agriculture – taxed. Natural gas price goes up. New taxes for energy companies.
The new Fiscal Code comes into effect today, February 1, with new provisions regarding the taxation of incomes in the agricultural sector, new taxes for energy companies and a 3 pc tax on the incomes of micro-enterprises.The Ministry of Finance also has as objective this year, among others, clarifying the legislation by collecting and structuring within one single document all the provisions of the Fiscal Code, taking into consideration the hundreds of modifications enforced during the last eight years, correlated with the related documents.On the positive side, as of February 1 the minimum wage advances from RON 700 to RON 750. The minimum wage in the economy will thus increase by 14.3 pc and, starting July 1, it will increase from RON 750 to RON 800. Thus, with 168.6 working hours a week, the minimum wage is equivalent to 4.7 RON/hour, slightly above EUR 1. In the case of pensions, the government adopted last week an Emergency Ordinance that indexes them by 4 pc starting January.
As regards the Fiscal Procedure Code, supplementary details appear about the way an individual person may be verified by fiscal inspectors. The regulation also makes it compulsory for natural persons to submit a statement listing their patrimonial assets and the incomes they made, upon the request of fiscal inspectors. The verification may take 6 months at most and, if the person has incomes from abroad, the verification may be extended to 12 months.
ANAF also published in the Official Gazette (no. 9 of 07.01.2013) Order 1994 that approves the model and content of Form 012 ‘Notification on modifying the annual/quarterly system of declaring and paying the profit tax.’ The order regulates how a taxpayer declares his options for the enforcement of the system of equal quarterly payments to the account of the profit tax. The system is optional, can be enforced for the interested persons, and the notification for its enforcement must be filed until the end of this month, hotnews.ro reports. Starting this year, the large majority of those who pay profit tax may opt for declaring the profit tax on annual basis, while making equal anticipated quarterly payments, as provided by art. 34 para. (2) of the Fiscal Code, explains Adrian Benta, fiscal consultant with Bentaconsult. “We emphasise that this system is optional and may be used by those interested. The option for the annual declaring system and the payment of the profit tax are chosen at the beginning of the fiscal year, until January 31st at latest,” Benta explains.
Agriculture, targeted by tax authorities
The farmers that obtain incomes from animal breeding will pay a tax of 16 pc of the net annual income, with the taxation being also enforced for the incomes from forestry and fishing activities, under the modification brought to the Fiscal Code that will come into effect tomorrow. The modification provides for including within the sphere of taxable incomes those obtained from forestry and fishing and imposing them in compliance with the rules applicable to the incomes from independent activities, where the net annual income is determined in real system, with a tax of 16 pc.The sphere of taxable incomes will also expand to those obtained from animal breeding and exploitation, also from the sale of raw animal products. Exempted from the tax will be the farmers with maximum 10 sheep or goats, 3 cows, 6 pigs, or those who own 100 fowls or 100 bee families. The tax exemption also applies to the incomes from cereals, if the planted surface is maximum two hectares, as well as in the case of oil plants, potatoes, sugar beet, hops and bean vegetables.
SME cap drops to EUR 65,000
The cap enforced in the case of micro-enterprises will be lowered from EUR 100,000 to EUR 65,000, RON equivalent. All the private companies that do not exceed this limit will have to pay a tax of 3 pc of the incomes they achieve, starting February 1, 2013. The new Code eliminates the condition for companies of having between one and nine employees, but they will no longer be allowed to choose the tax type they prefer (profit or income tax) and the income tax will become mandatory. Dan Manolescu, state secretary with the Ministry of Finance explained that the decision to lower the cap from the equivalent of EUR 100,000 was made in order to make it equal to the cap set for the VAT, which is EUR 65,000.
Natural gas becomes 5 pc more expensive for companies
The price of natural gas sold to the companies which receive it in a regulated system will increase by 5 pc as of today, the measure being assumed though the accord with the IMF. “The price of gas for non-household consumers which receive it in a regulated regime was expected to increase by 5 pc at the end of last year. This has not been done because the move should have been approved by government decree, which could not be issued because of the change of government,” ANRE president Nicolae Havrilet explains. Under the gas market liberalisation calendar, the price of gas should have increased by 5 pc as of December 1, 2012. The next increases for 2013 are scheduled on April 1st (5 pc), July 1st (5 pc) and October 1st (3 pc). For household users, the calendar provides an 8 pc increase starting July 1st, followed by 2 pc on October 1st.
New taxes for energy companies
In a short presentation of the package of fiscal measures, the minister of Finance, Daniel Chitoiu announced, two weeks ago, that authorities will enforce a supplementary tax on the incomes obtained from the liberalisation of the price of gas for both household and non-household users, specifying that the measure refers to gas producer companies. Chitoiu explained that the calendar of excise duties’ increase will be moved from July 1st to April 1st.Last but not least, excises for beer will go up by 10 per cent, leading to an increase of price of about 2 per cent.