{"id":1306,"date":"2022-07-29T20:52:48","date_gmt":"2022-07-29T17:52:48","guid":{"rendered":"https:\/\/nowium.com\/?post_type=bulletin&#038;p=1306"},"modified":"2022-08-12T18:24:43","modified_gmt":"2022-08-12T15:24:43","slug":"newsletter-3-july-2022","status":"publish","type":"bulletin","link":"https:\/\/nowium.com\/en\/bulletin\/newsletter-3-july-2022\/","title":{"rendered":"Newsletter no. 3 &#8211; July 2022"},"content":{"rendered":"<p style=\"text-align: justify;\">Access the magazine version of this Newsletter in pdf format: <a href=\"https:\/\/nowium.com\/wp-content\/uploads\/2022\/07\/Nowium_Newsletter_nr_3_iulie_2022_RO.pdf\" target=\"_blank\" rel=\"noopener\"><strong>Romanian <\/strong><\/a>\u00a0&#8211; <a href=\"https:\/\/nowium.com\/wp-content\/uploads\/2022\/07\/Nowium_Newsletter_no_3_July_2022_EN.pdf\" target=\"_blank\" rel=\"noopener\"><strong>English<\/strong><\/a><\/p>\n<h3 id=\"summary\">Summary<\/h3>\n<ul>\n<li>Major changes to the fiscal system with immediate application (18th of July\/1st of August 2022), others applying effective the 1st of January 2023 (<a href=\"#1\">GO16\/2022<\/a>)\n<ul>\n<li><a href=\"#1.1\">Corporate income tax<\/a><\/li>\n<li><a href=\"#1.2\">Dividends<\/a><\/li>\n<li><a href=\"#1.3\">Tax on micro-enterprise income<\/a><\/li>\n<li><a href=\"#1.4\">Specific tax<\/a><\/li>\n<li><a href=\"#1.5\">Tax on income<\/a><\/li>\n<li><a href=\"#1.6\">Tax on income from independent activities<\/a> (&#8220;PFA&#8221; &#8211; Freelancers)<\/li>\n<li><a href=\"#1.7\">Tax on income from gambling activities<\/a><\/li>\n<li>Tax on income from <a href=\"#1.8\">rental activities (lease of goods)<\/a><\/li>\n<li>Tax on income from <a href=\"#1.9\">investments<\/a><\/li>\n<li>Tax on income\u00a0 from transfer of <a href=\"#1.10\">transfer of real estate property<\/a>\u00a0from personal patrimony<\/li>\n<li><a href=\"#1.11\">Mandatory social contributions<\/a><\/li>\n<li>Tax on <a href=\"#1.12\">income obtained by non-residents<\/a><\/li>\n<li><a href=\"#1.13\">Value Added Tax<\/a><\/li>\n<li><a href=\"#1.14\">Local taxes<\/a><\/li>\n<\/ul>\n<\/li>\n<li>Amendment on how to calculate tax for non-residential buildings owned by individuals, contradicting changes to the fiscal system (<a href=\"#2\">Law 252\/2022<\/a>)<\/li>\n<li>Amendments on the procedure to use and operate RO e-Factura system in B2G relation (<a href=\"#3\">Order 1667\/2022<\/a>)<\/li>\n<li>Accounting Reporting system as at 30<sup>th<\/sup> of June 2022 for economic operators \u2013 deadline for submission the 16<sup>th<\/sup> of August 2022 (<a href=\"#4\">Order 1669\/2022<\/a>)<\/li>\n<li>Payroll sheets to be kept for 5 years &#8211; previously 50 years (<a href=\"#5\">Law 195\/2022<\/a>)<\/li>\n<li>Clarification related to tax obligations associated with sale of agricultural land located outside residential areas, prior to the end of the 8-year term from purchase date (<a href=\"#6\">GEO104\/2022<\/a>)<\/li>\n<li><a href=\"#7\">Other legislative news<\/a><\/li>\n<li><a href=\"#8\">July closing exchange rates<\/a>.<\/li>\n<\/ul>\n<h2 id=\"1\" style=\"text-align: justify;\"><span style=\"color: #444a7a;\">Ordinance 16\/2022 to amend and complement Law 227\/2015 on Fiscal Code, to repeal certain normative acts and other financial and fiscal measures (Official Gazette 716\/2022)<\/span><\/h2>\n<h3 style=\"text-align: justify;\"><span style=\"color: #c49573;\">Summary<\/span><\/h3>\n<p>The Ordinance brings important amendments to the Fiscal Code, some of them being immediately applicable (July 18\/August 1, 2022), others being applied starting the 1<sup>st<\/sup> of January 2023.<\/p>\n<p>The main changes are:<\/p>\n<ul>\n<li><strong>Micro-enterprise regime<\/strong> suffers major changes effective the 1<sup>st<\/sup> of January 2023, by becoming optional, and several limitations are imposed on its application<strong>;<\/strong><\/li>\n<li><strong>Specific tax<\/strong> (Horeca) is repealed effective the 1<sup>st<\/sup> of January 2023;<\/li>\n<li><strong>Tax on income obtained from dividends<\/strong> increases from 5% to 8% starting with dividends distributed after the 1<sup>st<\/sup> of January 2023;<\/li>\n<li><strong>VAT <\/strong>\u2013 increases from 5% to 9% for the Horeca (Hotel, Restaurant, Caf\u00e9) sector and from 9% to 19% for carbonated beverages containing sugar. It also decreases the threshold up to which houses may be sold to RON 600,000, where a lower VAT rate of 5% is applied;<\/li>\n<li><strong>Tax on income and social contributions<\/strong>\n<ul>\n<li>Fiscal facilities for construction sector and agricultural and food industry apply up to the maximum threshold of RON 10,000 (previously RON 30,000) \u2013 applicable to income related to August 2022;<\/li>\n<li>Part-time contracts are taxed with social contributions calculated at the level of a gross minimum wage. The exception to this rule will be represented by students up to 26 years old, apprentices, pensioners\/retirees in the public system, persons who have multiple part-time or full-time labour contracts, and where total income exceeds the minimum wage, and persons with disabilities \u2013 applicable to income related to August 2022;<\/li>\n<\/ul>\n<\/li>\n<li>There is a new threshold to limit all benefits an employee may receive, representing 33% of base salary;<\/li>\n<li>Additional tax on income deductions is introduced for low income, for young people aged up to 26 years old and for families with children;<\/li>\n<li>The tax on income from real estate transactions made by individuals increases from 1% to 3% for real estate owned for less than 3 years, the rate being 1% for real estate owned for more than 3 years. Inherited properties will be exempted.\n<ul>\n<li>Income from independent activities (PFA) \u2013 the ceiling for income tax rates decreases from EUR 100,000 to EUR 25,000 per year. Exceeding the ceiling implies taxation in the real system.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Local taxes<\/strong><\/li>\n<li>Tax on building will be calculated on a unitary basis for both individuals and legal entities, the tax rate being a minimum of 0.1% for residential buildings and a minimum of 0.5% for non-residential buildings, there are no longer defined maximum rates.<\/li>\n<\/ul>\n<h3 style=\"text-align: justify;\"><span style=\"color: #c49573;\">Details<\/span><\/h3>\n<h3 id=\"1.1\">CORPORATE TAX<\/h3>\n<p><strong>Tax exemption for reinvested profit<\/strong><\/p>\n<p>From the 1<sup>st<\/sup> of January 2023, the tax exemption facility is also extended to profit reinvested in <strong>assets used in production and processing, as well as in assets representing upgrades in technology.<\/strong><\/p>\n<p>The categories covered by this extension will be detailed in an Order of the Minister of Finance.<\/p>\n<p>These new categories will be added to those to which the facility already applies, namely tangible assets listed in subgroup 2.1 and in class 2.2.9 of the fixed asset Catalogue, specifically, technological equipment, electronic computers and peripheral equipment, cash registers, control and billing appliances, software, as well as the right to use the software.<\/p>\n<h3 id=\"1.2\">DIVIDENDS<\/h3>\n<p><strong>The tax on dividends is increased from 5% to 8%<\/strong>. The increased rate will apply to dividends distributed starting <strong>the 1<sup>st<\/sup> of January 2023<\/strong>.<\/p>\n<p>The condition regarding the legal form of the beneficiary company is rephrased in order to not tax income from dividends received from other Romanian legal entities or from companies from EU Member States. Thus, this income is non-taxable for the calculation of corporate tax regardless of the form of organization of the beneficiary company, as long as it is subject to Romanian legislation \u2013 applicable starting the 18<sup>th<\/sup> of July 2022.<\/p>\n<p>The other conditions are retained:<\/p>\n<ul>\n<li>minimum holding of 10% for an uninterrupted period of 1 year<\/li>\n<li>both companies should pay, without the possibility of an option or exemption, corporate tax or any other tax that substitutes corporate tax<\/li>\n<\/ul>\n<h3 id=\"1.3\">TAX ON MICRO-ENTERPRISE INCOME<\/h3>\n<p>Multiple changes are made to tax on micro-enterprise income which apply starting the 1<sup>st<\/sup> of January 2023.<\/p>\n<p><strong>Optional character of the regime<\/strong><\/p>\n<p>The first radical change, effective the 1<sup>st<\/sup> of January 2023, is that the micro-enterprise regime becomes optional and the option to apply the system may be applied only if the company has not been taxed on micro-enterprise income. Specifically, the option to apply the micro-enterprise regime may only be applied once after the 1<sup>st<\/sup> of January 2023. The option will be communicated to ANAF by the 31<sup>st<\/sup> of March of the year for which the option is exercised.<\/p>\n<p>Micro-enterprises may not choose to pay corporate tax during the fiscal year, the option may be exercised starting the subsequent fiscal year \u2013 except for situations where the conditions of the regime are no longer met.<\/p>\n<p><strong>Conditions to apply the regime<\/strong><\/p>\n<p>Conditions for optional application of the micro-enterprise regime are amended. Thus, a Romanian legal entity may opt for this regime if it cumulatively meets the following conditions on the 31<sup>st<\/sup> of December of the previous year:<\/p>\n<ul>\n<li>it has registered <strong>revenues<\/strong> that did <strong>not exceed<\/strong> the equivalent in lei of <strong>EUR 500,000<\/strong> (previously the ceiling was EUR 1,000,000);<\/li>\n<li>it has registered <strong>revenue, other<\/strong> than from <strong>consulting and\/or management<\/strong>, in a proportion of <strong>over 80% of total revenue<\/strong> (a newly introduced condition, but was imposed several years ago);<\/li>\n<li>it has <strong>at least one full-time employee<\/strong>;<\/li>\n<li>it has associates\/shareholders who hold more than 25% of the value\/number of participation titles or voting rights in no more than three Romanian legal entities that qualify to apply the taxation system to the micro-enterprise income (newly introduced condition);<\/li>\n<li>the share capital is owned by persons other than the state and administrative-territorial units (unmodified condition);<\/li>\n<li>it is registered at the Trade Registry and is not in dissolution, followed by liquidation, or in the courts, according to law (unmodified condition).<\/li>\n<\/ul>\n<p><strong>Limit to number of companies that are owned by shareholders holding more than 25% and apply the micro-enterprise regime <\/strong><\/p>\n<p>If more than three companies are held, the shareholders should decide on three companies to which micro-enterprise regime will apply, the rest paying corporate tax starting the quarter in which the situation occurred. The exit from the system of taxation on micro-enterprise income is final for the respective fiscal year.<\/p>\n<p><strong>Condition to have at least one employee<\/strong><\/p>\n<p>Companies with no employees can no longer be micro-enterprises.<\/p>\n<p>For newly established companies, the condition regarding employment of an individual should be met within 30 days starting with date of registration of the affected legal entity.<\/p>\n<p>If the employment relation is suspended, the condition will be considered to be met if the period of suspension is less than 30 days and the situation is recorded for the first time during that fiscal year.<\/p>\n<p>If a micro-enterprise has only one employee whose employment relation ceases, within 30 days from the end of the employment relationship, a new employee should be hired with an individual labour contract for an undetermined period or for a period of at least 12 months.<\/p>\n<p><strong>Exit from micro-enterprise regime during the year<\/strong><\/p>\n<p>A micro-enterprise no longer fulfils the conditions to apply the regime if during the fiscal year:<\/p>\n<ul>\n<li>earns revenue of more than EUR 500,000; or<\/li>\n<li>the share of total revenue from consultancy and\/or management is over 20%; or<\/li>\n<li>does not have at least one full-time employee,<\/li>\n<\/ul>\n<p>it will owe corporate tax starting the quarter in which any of these limits were no longer met, without the possibility to opt for the micro-enterprise regime in the next period.<\/p>\n<p><strong>Areas that cannot apply micro-enterprise regime<\/strong><\/p>\n<p>Micro-enterprise regime cannot be applied by Romanian legal entities that carry out activities in the banking, insurance or reinsurance fields, capital markets, including intermediation, gambling, exploration, development as well as development of oil and natural gas deposits.<\/p>\n<p>If legal entities start to carry out any of these activities, they will owe corporate tax as of the applicable quarter.<\/p>\n<p><strong>Tax deductions and fiscal facilities<\/strong><\/p>\n<p>Clarification regarding the order in which certain tax deductions and reductions are made from the tax on micro-enterprise income, are as follows:<\/p>\n<ul>\n<li>sponsorships carried out to support non-profit entities and worship\/religious units, registered in the Register of religious entities\/units for which tax deductions are granted, meaning amounts granted as scholarships to students schooled in dual vocational education;<\/li>\n<li>purchase cost of AMEF (fiscal electronic cash register);<\/li>\n<li>the amount of tax reduction granted for facilities related to equity (GEO 153\/2020).<\/li>\n<\/ul>\n<p><strong>Tax rate<\/strong><\/p>\n<p>The micro-enterprise regime will have a sole tax rate of 1%. The current 3% tax rate for micro-enterprises with no employees is disappearing as they cannot apply this regime.<\/p>\n<p><strong>Taxation base<\/strong><\/p>\n<p>To determine the taxation base of a micro-enterprise, revenue and dividends received from a subsidiary of the micro-enterprise, a legal entity located in another Member State of the European Union, will be deducted if both the micro-enterprise and the subsidiary meet conditions provided by art. 24 of the Fiscal Code.<\/p>\n<h3 id=\"1.4\">SPECIFIC TAX<\/h3>\n<p>The specific tax is repealed starting the 1<sup>st<\/sup> of January 2023.<\/p>\n<p>As of this date, Romanian legal entities carrying out activities corresponding to NACE codes for HORECA (5510, 5520, 5530, 5590, 5610, 5621, 5629, 5630) may choose to pay tax on micro-enterprise income (whether or not they meet the conditions for being classified as a micro-enterprise), or pay corporate tax.<\/p>\n<h3 id=\"1.5\">TAX ON INCOME<\/h3>\n<p><strong>Fiscal facilities in construction sector<\/strong> \u2013 amendments applicable effective the 18<sup>th<\/sup> of July 2022<\/p>\n<p>Turnover effectively obtained from construction activity only includes <strong>revenue from activity carried out on the territory of Romania<\/strong>, and total turnover includes both revenue from activity carried out on the territory of Romania, as well as outside of Romania.<\/p>\n<p>Activity carried out on the territory of Romania refers to its actual development in Romania for the purpose of producing products and providing services.<\/p>\n<p>The condition regarding calculation of the minimum 80% share of eligible activities in total turnover for construction employers existing on the 1<sup>st<\/sup> of January of each year is amended. Thus, the share will cumulatively be calculated for the <strong>corresponding period of the current year, including the month when the exemption applies<\/strong> and will no longer be considered as the base to calculate the turnover cumulatively achieved for the previous fiscal year.<\/p>\n<p>Starting with January 2023 revenue, tax facilities for the construction field will only be granted for income earned by individuals from activity in Romania. However, Order 1528\/2022 regulating the procedure to apply the facilities, in force since the 1<sup>st<\/sup> of July 2022, already limits the facilities to activities carried out in Romania.<\/p>\n<p><strong>Fiscal facilities granted in the field of construction, agriculture and food industry<\/strong><strong> \u2013 <\/strong>amendments applicable to income related to August 2022<\/p>\n<p>The gross income ceiling up to which the fiscal facilities are granted is reduced from RON 30,000 to RON 10,000.<\/p>\n<p>Application of the exemption from tax on income for income earned from salaries and similar to salaries for activity carried out in Romania is limited to persons employed with an individual labour contract; therefore, no facilities will be available in the case of management contracts, mandate, day laborers and others.<\/p>\n<p><strong>Fiscal facilities for seasonal labour contracts<\/strong><\/p>\n<p>Exemptions for seasonal labour contracts (for a maximum period of 12 months) concluded with employers active in the HORECA field are repealed as of January 1, 2023.<\/p>\n<p><strong>Exemptions for salary\/extra-salary benefits \u2013 <\/strong>starting with income related to January 2023<\/p>\n<p>The current tax system provides certain non-taxable limits for various salary benefits. As of January 2023, a second global cap on all benefits of an employee is introduced in relation to his\/her base salary.<\/p>\n<p>Therefore, a monthly non-taxable income ceiling is introduced, which is not included in the calculation basis for mandatory social contributions, which represents a maximum of 33% of base salary corresponding to the job position, for certain income granted to own employees by employers. For the portion exceeding the monthly non-taxable ceiling of 33%, income tax and mandatory social contributions are due.<\/p>\n<p>Benefits that are included in calculating the new threshold of 33% are:<\/p>\n<ul>\n<li><strong>additional benefits received by employees based on the mobility clause<\/strong> according to the law, other than those granted according to GD 38\/2008, within the limit of 2.5 times the legal daily allowance;<\/li>\n<\/ul>\n<p><strong>Allowances regarding the mobility clause granted according to GD 38\/2008 on the organization of working time of people who carry out road transport activities &#8211; more precisely the mobility clause granted to drivers &#8211; are not included in the 33% ceiling. They remain assimilated to the daily allowance.<\/strong><\/p>\n<ul>\n<li><strong>value of food<\/strong> provided by the employer for its own employees, within the maximum value of a meal ticket per person, per day, with certain limitations (only on the days when the employee works in the unit and only if the unit does not already grant meal tickets to employees). An exception is made for food provided by employers to employees if, according to relevant legislation, bringing food onto the premises of the unit is prohibited;<\/li>\n<li><strong>accommodation or the value of rent<\/strong> for premises made available by the employer, within the limit of a non-taxable ceiling of 20% of gross minimum base salary per country guaranteed in payment, per month, per person. Additional conditions apply, such as, in the case of a rental, the conclusion of the rental agreement directly between employer and landlord<strong>; <\/strong><\/li>\n<li><strong>value of tourist and\/or treatment services, <\/strong>including transport, during the period of leave, for own employees and their family members, within the limit of an annual ceiling of an average gross salary per employee;<\/li>\n<li><strong>contributions to a voluntary pension fund<\/strong> borne by the employer for its own employees, within the limit of EUR 400 per person per year;<\/li>\n<li><strong>voluntary health insurance premiums and medical services<\/strong> provided in the form of a subscription, borne by the employer for its own employees, within the limit of EUR 400\/person\/year;<\/li>\n<li><strong>work from home allowances,<\/strong> within the limits of RON 400 per month per person.<\/li>\n<\/ul>\n<p>Each category has certain limits, and the sum of all categories already limited is included in the new second cap\u00a0 of 33% of base salary.<\/p>\n<p>The order in which income mentioned above is included in the monthly ceiling of base salary corresponding to the job position is established by the employer.<\/p>\n<p>The above provisions also apply to the social contributions (CAS, CASS, CAM).<\/p>\n<p>Basically, the new income tax mechanism will work as follows:<\/p>\n<ol>\n<li>Individual limits are defined for each type of benefit. If the benefit exceeds the individual limit, then the amount exceeding the limit will be considered taxable income, and subject to income tax and social contributions.<\/li>\n<li>The sum of all benefits falling within the individual limit is additionally limited to a ceiling of 33% of base salary corresponding to the job position, and any excess is taxable income, subject to income tax and social contributions.<\/li>\n<\/ol>\n<p><strong>Deduction system<\/strong><\/p>\n<p>With two categories of deductions, the system has been substantially amended since the 1<sup>st<\/sup> of January 2023:<\/p>\n<ul>\n<li>basic personal deduction &#8211; granted exclusively for individuals who have a gross monthly income of up to RON 2,000 RON above the minimum gross base salary per country and is calculated in decreasing order, depending on the level of gross monthly income and number of dependents;<\/li>\n<li>additional personal deduction &#8211; given to certain categories of persons:\n<ul>\n<li><strong>a deduction of 15% of minimum gross<\/strong> <strong>base salary<\/strong> for persons under the age of 26, which earn income from salaries of up to RON 2,000 above the minimum gross base salary<\/li>\n<li><strong>RON 100 per month for each child up to 18 years old<\/strong>, if he\/she is enrolled in an educational unit, to the parent who earns income from salaries, regardless of their level. If the child is supported by both parents, the deduction will be granted to one parent from one place of work.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h3 id=\"1.6\">TAX ON INCOME FROM INDEPENDENT ACTIVITIES<\/h3>\n<p>The ceiling according to which income from independent activities is taxed based on income quotas is reduced from EUR 100,000 to EUR 25,000. The amendment applies starting January 1, 2023. Exceeding the ceiling determines the obligation to tax income in the real system, starting the subsequent fiscal year.<\/p>\n<h3 id=\"1.7\">TAX ON INCOME FROM GAMBLING ACTIVITIES<\/h3>\n<p>The tax on gambling revenue is increased, the maximum tax rate reaching 40% (from 25% currently).<\/p>\n<p>Thus, starting with the revenue for August 2022, the new taxable rates are:<\/p>\n<ul>\n<li>for gross income up to RON 10,000 &#8211; tax rate of 3%;<\/li>\n<li>for gross income between RON 10,000 and RON 66,750 &#8211; tax of RON 300 + 20% will be due for what exceeds RON 10,000;<\/li>\n<li>for gross income of over RON 66,750 &#8211; tax of RON 11,650 + 40% will be due for what exceeds RON 66,750.<\/li>\n<\/ul>\n<h3 id=\"1.8\">TAX ON INCOME FROM RENTAL ACTIVIES (LEASE OF GOODS)<\/h3>\n<p>Starting with income for January 2023, the deduction of expenses at a flat rate of 40% of gross income from the lease of goods, other than income from rental of agricultural land\/rental of rooms for tourist purposes located in one\u2019s own property is eliminated. Practically, the tax base becomes gross income.<\/p>\n<p>Registration of lease contracts with ANAF becomes mandatory, including any modifications, within 30 days from conclusion of or change in contract. Contracts in progress on the 1<sup>st<\/sup> of January 2023 will be registered within 90 days from the 1<sup>st<\/sup> of January 2023. An ANAF Presidential Order will be issued to detail the registration procedure.<\/p>\n<h3 id=\"1.9\">TAX ON INCOME FROM INVESTMENTS<\/h3>\n<p>The tax on dividends earned by resident individuals, including revenue obtained as a result of holding shares in collective investment undertakings, increases from 5% to 8%.<\/p>\n<p>The increased rate also applies to non-resident individuals, in compliance with applicable agreements to avoid double taxation.<\/p>\n<p>The change applies to dividends distributed after January 1, 2023.<\/p>\n<h3 id=\"1.10\">TAX ON INCOME OBTAINED FROM TRANSFER OF REAL ESTATE PROPERTY FROM PERSONAL PATRIMONY<\/h3>\n<p>For income from the transfer of ownership and any subdivision, through legal acts between residing in a building of any kind and the related land, as well as on land of any kind without construction, tax will be due as follows:<\/p>\n<ul>\n<li>3% for construction of any kind and related land, as well as for land of any kind without construction, owned for a period of up to three years<\/li>\n<li>1% for the above mentioned owned for a period of more than three years<\/li>\n<\/ul>\n<p>The non-taxable threshold of RON 450,000 representing the amount that could be deducted from the value of the transaction made by an individual is eliminated.<\/p>\n<h3 id=\"1.11\">MANDATORY SOCIAL CONTRIBUTIONS<\/h3>\n<p><strong>Part-time labour contracts<\/strong><\/p>\n<p>Starting with income related to<strong> August 2022<\/strong>, there is a change to <strong>individual full-time or part-time labour contracts<\/strong>, for which social insurance (CAS) and social health insurance contribution (CASS) are less than the contributions calculated on minimum gross base salary per country in force during the month for which it is due. It becomes mandatory to pay <strong>CAS and CASS calculated at the level of contributions due for the minimum gross salary per country<\/strong> <strong>guaranteed in payment<\/strong>, corresponding to the number of working days during the month when the contract was active.<\/p>\n<p>If the CAS\/CASS calculated on income is less than than the minimum due according to the new provisions, the difference is borne by the employer\/income payer on behalf of the employee\/income beneficiary.<\/p>\n<p>Certain exceptions are provided, such as: students up to 26 years of age, apprentices up to 18 years of age, disabled persons and other persons legally able to work less than 8 hours a day, pensioners\/retirees (with certain exceptions)<strong> and persons who earn income during a month on the basis of at least two individual labour contracts, and the monthly basis for calculating CAS and CASS represents the minimum gross basic salary<\/strong>.<\/p>\n<p>For people with several individual labour contracts, the Ministry of Finance will issue an application procedure.<\/p>\n<p><strong>CAS related to income obtained from independent activities and copyrights<\/strong><\/p>\n<p>The calculation base for CAS owed for persons estimating\/earning income from independent activities and\/or copyright from one or more sources or categories of income, whose cumulative value is at least equal to 12 gross minimum wages per country in force at the time of submission of the Sole Tax Return.<\/p>\n<p>The annual basis for the calculation of CAS is the income selected by the taxpayer, which may not be less than:<\/p>\n<ul>\n<li><strong>12 gross minimum wages<\/strong> per country, in the case of income between 12 and 24 gross minimum wages per country;<\/li>\n<li><strong>24 gross minimum wages<\/strong> per country, in the case of income over 24 gross minimum wages per country.<\/li>\n<\/ul>\n<p>In fact, the contribution to CAS is doubled for those who earn income of at least twice the minimum wage per month. The new ceilings will apply to income related to January 2023.<\/p>\n<p>For other types of income &#8211; other than salaries, independent activities, copyright \u2013 i.e., income from rental activities, dividends, interest, investments, agricultural activities, forestry, fish farming, other sources, no CAS is due.<\/p>\n<p><strong>Social health insurance contribution<\/strong><\/p>\n<p>For those who estimate\/obtain income from independent activities, copyright, association with a legal entity, rental activities, agriculture activities, forestry, fish farming, investments and other sources, from one or more sources and\/or categories of income, the minimum ceiling to set<strong> CASS<\/strong> is reduced to a value of 6 gross minimum wages per country (currently 12 gross minimum wages per country).<\/p>\n<p>Therefore, the annual basis for calculating CASS will be:<\/p>\n<ul>\n<li>6 gross minimum wages per country, in the case of income between 6 and 12 gross minimum wages per country;<\/li>\n<li>12 gross minimum wages per country, in the case of income between 12 and 24 gross minimum wages per country;<\/li>\n<li>24 gross minimum wages per country, in the case of income over 24 gross minimum wages per country.<\/li>\n<\/ul>\n<p>The new thresholds will apply to income related to January 2023.<\/p>\n<p>We also see a doubling of the contribution for income above 2 gross minimum wages per month and taxation of income below 12 gross minimum wages per year. Earnings of over 6 gross minimum wages per year is currently non-taxable.<\/p>\n<p>In the case of income payers that withheld CASS (for copyright income paid to individuals, for agriculture rental activities, sport activities, associations), the minimum level of income estimated by a taxpayer in relation to the income payer is reduced from the value of 12 gross minimum wages to 6 gross minimum wages. Above this level the income payer has the obligation to withhold CASS.<\/p>\n<p>At the same time, new situations arise when an individual should file a Sole Tax Return if he\/she earns income what was estimated or above the ceiling at which his\/her contributions were withheld by the income payer.<\/p>\n<p>We point out that in the case of income from rental activities, as we mentioned in the tax on income section, no expenses are deducted for the flat tax rate of 40% of gross income. For this reason, when falling within the annual ceilings of 6, 12 or 24 gross minimum wages per country, gross income will be taken into account.<\/p>\n<h3 id=\"1.12\">TAX ON INCOME OBTAINED BY NON-RESIDENTS<\/h3>\n<p>The tax rate for income obtained from dividends by non-residents is increased from 5% to 8%, the increased rate being applicable to dividends distributed after January 1, 2023.<\/p>\n<h3 id=\"1.13\">VALUE ADDED TAX<\/h3>\n<p>In the VAT section, all amendments are applicable starting the 1<sup>st<\/sup> of January 2023.<\/p>\n<p>Changes are made when applying the reduced rates of 5% and 9%, as follows:<\/p>\n<p>The following operations will be subject to the reduced rate of 9%:<\/p>\n<ul>\n<li>accommodation in the hotel sector or sectors with a similar function, including rental of land for camping (currently 5%);<\/li>\n<li>restaurant and catering services, except alcoholic beverages and non-alcoholic beverages falling within CN codes 2202 10 00 and 2202 99 (currently 5%);<\/li>\n<li>supply of chemical fertilizers and pesticides regularly used in agricultural production.<\/li>\n<\/ul>\n<p>At the same time, the reduced VAT rate of 9% will no longer apply to non-alcoholic beverages falling within CN codes 2202 10 00 and 2202 99, to which the standard rate of 19% is applicable.<\/p>\n<p>For deliveries of firewood, the reduced VAT rate of 5% will apply by the 31<sup>st<\/sup> of December 2029.<\/p>\n<p><strong>Reduced VAT rate of 5% for sale of residences<\/strong><\/p>\n<ul>\n<li>The maximum ceiling for which the reduced VAT rate applies to residences is reduced. The maximum value should not exceed <strong>RON 600,000,<\/strong> excluding VAT. Any individual may purchase, starting with 1 January, 2023, independently or jointly with another individual\/individuals, a single residence whose value does not exceed RON 600,000, without VAT, with the reduced VAT rate of 5%.<\/li>\n<li>Currently, there are 2 ceilings: RON 450,000 and RON 700,000. The reduced VAT rate of 5% applies to the purchase of an unlimited number of residences for up to RON 450,000. Only one residence per individual is allowed the 5% VAT rate for sales prices between RON 450,00 and RON 700,000<\/li>\n<li>Individuals who have concluded legal contracts having as its object the advance payment for the purchase of a residence with a reduced VAT rate of 5%, before the 1<sup>st<\/sup> of January 2023, will benefit from application of the reduced VAT rate as per applicable conditions by the 31<sup>st<\/sup> of December 2022.<\/li>\n<li>A <em>\u201cRegister for purchase applying reduced VAT rate of 5%, starting with January 1, 2023\u201d,<\/em> will be created\/organized in electronic format.<\/li>\n<\/ul>\n<h3 id=\"1.14\">LOCAL TAXES<\/h3>\n<p>The tax system for individuals and legal entities is unified \u2013 in effect, the category of owner is no longer important.<\/p>\n<p>The concept of a mixed-purpose building is eliminated. For buildings that comprise both residential and non-residential spaces, the tax on buildings is determined according to the destination of area occupying the higher proportion of space (over 50%) and is calculated by applying the rate corresponding to that destination of space, on the value of the entire building.<\/p>\n<p>The taxable value for buildings and land will be established on the basis of market studies regarding the indicative values of real estate in Romania, administered by the National Union of Public Notaries in Romania (i.e., notarial grids) -&gt; <strong>evaluation reports will no longer be required.<\/strong><\/p>\n<p>Change of minimum limits for tax rates<\/p>\n<ul>\n<li>For residential buildings and related annexed buildings, the minimum rate is 0.1% &#8211; there are no maximum rates;<\/li>\n<li>For non-residential buildings the minimum rate is 0.5% &#8211; there are no maximum rates;<\/li>\n<li>For buildings used for agricultural activities, the tax on buildings is calculated by applying a 0.4% rate on the value of the building.<\/li>\n<\/ul>\n<p>If market studies regarding indicative values of real estate in Romania, administered by the National Union of Public Notaries in Romania, do not contain information about the buildings or land covered by these buildings within the radius of an administrative-territorial unit, the following rules will apply:<\/p>\n<ul>\n<li>in the case of a residential building, the tax on buildings is calculated by applying the minimum rate of 0.1% on the taxable value set according to Art. 457 of the Fiscal Code, in force on December 31, 2022;<\/li>\n<li>in the case of a non-residential building, the tax on buildings is calculated by applying the minimum rate 0.5% on the last value recorded in the tax authority\u2019s database on December 31, 2022;<\/li>\n<li>tax rate on buildings is established by decision of the local council.<\/li>\n<\/ul>\n<h3>Obligation to accept card payment methods<\/h3>\n<p>Legal entities carrying out wholesale and retail trade activities, as well as those carrying out service provision activities, which annually achieve revenue of more than EUR 10,000 in RON (currently EUR 50,000), have the obligation to accept as means of payment debit, credit or prepaid cards, through a POS terminal and\/or other accepted modern solutions, including applications facilitating the acceptance of electronic payments, starting with the quarter following the quarter when the cash sales received during that year exceeds the ceiling.<\/p>\n<p><a href=\"#summary\">back to summary \u21d1<\/a><\/p>\n<h2 id=\"2\" style=\"text-align: justify;\"><span style=\"color: #444a7a;\">Law 252\/2022 to amend Law 227\/2015 on the Fiscal Code and to complement art. 47 of Law 207\/on the Fiscal Procedure Code (Official Gazette 742\/2022)<\/span><\/h2>\n<h3 style=\"text-align: justify;\"><span style=\"color: #c49573;\">Summary<\/span><\/h3>\n<p>The Law amends the Fiscal Code regarding the calculation of the tax on <strong>non-residential buildings <\/strong>and applies effective the 1<sup>st<\/sup> of January 2023.<\/p>\n<h3 style=\"text-align: justify;\"><span style=\"color: #c49573;\">Details<\/span><\/h3>\n<p>The major problem is that the Law was adopted and sent for promulgation before the Government could publish GO 16\/2022 which also changes the rules regarding local taxes and building taxation. Therefore, contrary provisions were given through acts with different legislative power. So, we should wait and see how these problems will be adjusted with legislation in the near future.<\/p>\n<p>The main provisions of this Law are mentioned below.<\/p>\n<p>Local tax authorities should notify owners of non-residential buildings that they need to reassess those buildings in order to apply the regular local tax rate. We recall that GO 16\/2022 eliminated the need for reassessment reports, the value of the buildings being established based on notarial grids.<\/p>\n<p>The notification should be made annually, through the Virtual Private Space (or, where applicable, by post), until the 1<sup>st<\/sup> of October and will cover local tax for the following year. In the absence of notification, the owner will use the usual local tax rate, even if he\/she has not made the required periodic assessment. Therefore, the increased rate will only apply if the owner remains passive even after being warned by the local authorities.<\/p>\n<p>If the building owner does not submit an assessment report to the competent fiscal authority by the first tax payment deadline:<\/p>\n<ul>\n<li>the tax is calculated by applying the rate of <strong>2%<\/strong> on the taxable value, <strong>if a notification was sent<\/strong>;<\/li>\n<li>the tax is calculated by applying the rate of <strong>5%<\/strong> on the taxable value, <strong>if a notification has not been sent<\/strong>.<\/li>\n<\/ul>\n<p>The Law also introduces a new provision in the Fiscal Procedure Code according to which, for communication of fiscal administrative documents issued by the local fiscal authority, the local council may decide to use <strong>electronic means of remote transmission<\/strong> used by the central fiscal authority, by adhering to applicable work procedures.<\/p>\n<p><a href=\"#summary\">back to summary \u21d1<\/a><\/p>\n<h2 id=\"3\" style=\"text-align: justify;\"><span style=\"color: #444a7a;\">Order 1667\/2022 to amend Procedure to use and operate the national RO e-Factura electronic invoice system, as well as to receive and download electronic invoices by the recipient of invoices issued in relation to B2G within the national RO e-Factura electronic invoice system, approved by Order of the Minister of Finance 1365\/2021, and regarding amendment of Order of the Vice prime minister, Minister of Public Finance 2004\/2013 to approve procedures regarding the Register of public entities and the Register of other entities (Official Gazette 714\/2022)<\/span><\/h2>\n<h3 style=\"text-align: justify;\"><span style=\"color: #c49573;\">Summary<\/span><\/h3>\n<p>The Order amends the procedure to use and operate the RO e-Factura system in B2G (\u201cBusiness to Government\u201d relation.<\/p>\n<h3 style=\"text-align: justify;\"><span style=\"color: #c49573;\">Details<\/span><\/h3>\n<p>The obligation of contracting authorities and entities (G) to be registered in the Register of public entities is eliminated.<\/p>\n<p>Recipients of an electronic invoice issued in a B2G relation have the obligation to receive and download the electronic invoice by accessing the <em>Electronic Invoice<\/em> section available in SPV (Virtual Private Space), or, in the case of those registered in the Register of public entities, by accessing the <em>Single Access Point<\/em> on the website of the Ministry of Finance \u2013 the Forexebug national reporting system, <em>View reports<\/em> &#8211; <em>Electronic invoices<\/em> section.<\/p>\n<p><a href=\"#summary\">back to summary \u21d1<\/a><\/p>\n<h2 id=\"4\" style=\"text-align: justify;\"><span style=\"color: #444a7a;\">Order 1669\/2022 to approve Accounting Reporting System for economic operators as at 30 June 2022 (Official Gazette 723\/2022)<\/span><\/h2>\n<h3 style=\"text-align: justify;\"><span style=\"color: #c49573;\">Summary<\/span><\/h3>\n<p>The Order approves Accounting Reporting System for economic operators as at 30 June 2022.<\/p>\n<h3 style=\"text-align: justify;\"><span style=\"color: #c49573;\">Details<\/span><\/h3>\n<h4>Accounting Reporting System as at 30 June 2022<\/h4>\n<p>This applies to entities which, during the previous financial year, registered <strong>turnover above EUR 1 million<\/strong> and to entities applying OMFP 1802\/2014 as well as to those applying IFRS, regulated by OMFP 2844\/2016.<\/p>\n<p>The system also applies to economic operators having a financial reporting year different from the calendar year.<\/p>\n<p>Preparation of Accounting reports as of 30 June 2022 are required if an entity\u2019s turnover exceeds the criterion mentioned above, based on indicators resulting from annual financial statements of the previous financial year. Annual financial statement is defined as the trial balance closed at the end of the previous financial year using the official exchange rate communicated by the National Bank of Romania valid for the close of the prior financial year. The same provisions also apply in the case of entities which have opted for a financial reporting year different from the calendar year.<\/p>\n<p>Basically, the ceiling of EUR 1 million represents RON 4,948,100 (calculated based on the NBR exchange rate valid at the end of 2022).<\/p>\n<h4>Branches and permanent establishments<\/h4>\n<p>The provisions also apply to subsidiaries opened in Romania by companies residing in states belonging to the European Economic Area regardless of the financial reporting year selected, according to law. Subsidiaries opened in Romania by companies residing in states belonging to the European Economic Area determine whether they have an obligation to submit Accounting reports as at 30 June 2022, based on the same turnover criterion according to annual Accounting reports as at 31 December 2021.<\/p>\n<p>From an accounting point of view, permanent establishments in Romania, belonging to legal entities that have their headquarters abroad, represent subunits without legal personality of these foreign legal entities, yet they also have an obligation to prepare mid-year Accounting reports.<\/p>\n<p>If a legal entity having its headquarters abroad carries out its activity in Romania through several permanent establishments, then the Accounting reports are prepared by the permanent establishment <strong>assigned<\/strong> to fulfil fiscal responsibilities, by reflecting activity of all permanent establishments. In this regard, the designated permanent establishment proceeds to consolidate information that corresponds to activities carried out by each permanent establishment in Romania.<\/p>\n<p>In the case of legal entities having subsidiaries without legal personality, the related financial results are also consolidated by the legal entity preparing Accounting reports as at 30 June 2022.<\/p>\n<p>Foreign legal entities with the location of effective management in Romania are not required to draft Accounting reports as at 30 June 2022.<\/p>\n<h4>Entities regulated by NBR\/FSA<\/h4>\n<p>Entities licensed, regulated and monitored by the National Bank of Romania (NBR), namely, the Financial Services Administration (FSA), will submit Accounting reports as at 30 June 2022 to the territorial unit of the Ministry of Finance in the format and within the timeline provided by regulations for those institutions.<\/p>\n<h4>Who does not submit Accounting reports as at 30 June 2022?<\/h4>\n<p>The following entities do not have the obligation to submit Accounting reports:<\/p>\n<ul>\n<li>Economic operators which, during the previous financial year, had turnover below the threshold of RON EUR 1,000,000 (RON 4.948.100);<\/li>\n<li>Entities which did not carry out activity from set-up date through the 30<sup>th<\/sup> of June 2022;<\/li>\n<li>Entities which, during the first half of 2022, were in temporary inactivity;<\/li>\n<li>Entities set up during 2022, as well as legal entities which are under the liquidation process, according to law;<\/li>\n<li>Foreign legal entities having the place of exercising effective management in Romania.<\/li>\n<\/ul>\n<h4>Accounting reports as at 30 June 2022 prepared by entities applying OMFP 1802\/2014 contain:<\/h4>\n<p>For micro-enterprises:<\/p>\n<ul>\n<li>Statement of assets, liabilities and equity (code 10);<\/li>\n<li>Abbreviated income statement (code 20);<\/li>\n<li>Informative data (code 30) \u2013 extended format;<\/li>\n<\/ul>\n<p>For small, medium and large entities:<\/p>\n<ul>\n<li>Statement of assets, liabilities and equity (code 10);<\/li>\n<li>Income statement (code 20) \u2013 classic format;<\/li>\n<li>Informative data (code 30) \u2013 classic format<\/li>\n<\/ul>\n<h4>Accounting reports as at 30 June 2022 prepared by entities whose securities are admitted for trade on a regulated market and which apply IFRS contain:<\/h4>\n<ul>\n<li>Statement of assets, liabilities and equity (code 10);<\/li>\n<li>Income statement (code 20);<\/li>\n<li>Informative data (code 30).<\/li>\n<\/ul>\n<h4>Entities which opted for a different financial year<\/h4>\n<p>Entities which opted for a financial year other than the calendar year should complete the forms with data related to the period from the 1<sup>st<\/sup> of January 2022 to the 30<sup>th<\/sup> of June 2022 (and 2021, where comparative information is presented).<\/p>\n<h4>How to determine reporting type?<\/h4>\n<p>In order to set the type of reports that should be completed and submitted, it is necessary to establish whether the entity may be classified as a micro-enterprise or not. The type of form to be completed is set according to this classification.<\/p>\n<p>The indicators \u2013 total assets, net revenue and average headcount \u2013 which determine the type of entity are set based on annual financial statements related to the previous financial year. This rule is also available for entities that have opted for a financial year other than the calendar year.<\/p>\n<h4>Submission of Accounting reports<\/h4>\n<p>Accounting reports may be submitted to the registration office of the local units of MPF in paper and electronic format, or only digitally on <a href=\"http:\/\/www.e-guvernare.ro\/\" rel=\"nofollow noopener\" target=\"_blank\">www.e-guvernare.ro<\/a> having attached an extended electronic signature.<\/p>\n<p>The electronic format of Accounting reports submitted online or to a Ministry of Finance registration office consists of a PDF file to which an XML file is attached.<\/p>\n<p>The Accounting report (having the digital version attached) may also be submitted to the registration office of Ministry of Finance local units or by registered postal mail, with confirmation of receipt.<\/p>\n<p>The file to prepare Accounting reports may be accessed on the ANAF website.<\/p>\n<h4>Who signs Accounting reports as at 30 June 2022?<\/h4>\n<p>Accounting reports are signed by persons entitled to do so; their full name being disclosed. The caption regarding the position of the person who prepared the Accounting report is completed as follows:<\/p>\n<ul>\n<li>CFO, head of accounting department or other empowered person occupying this position as per Law 82\/1991. In this regard, the empowered person should be a person hired according to law, having higher education in the field of economics and having the competence to conduct\/manage the entity\u2019s bookkeeping;<\/li>\n<li>Individual or legal entity, duly licensed, member of the Romanian Body of Chartered and Licensed Accountants (CECCAR).<\/li>\n<\/ul>\n<p>The Accounting report as at 30 June 2022 is also signed by the Director or by the person with whom management of the entity lies.<\/p>\n<h4>Deadline for submitting Accounting report as at 30 June 2022<\/h4>\n<p>The deadline to submit Accounting reports as at 30 June 2022 is <strong>the 16<sup>th<\/sup> of August 2022.<\/strong><\/p>\n<p>Failure to submit Accounting reports as at 30 June 2022 under the conditions stated by this Order is sanctioned with a fine ranging from RON 2,000 to RON 5,000, as following:<\/p>\n<ul>\n<li>If the delay period is between 1 and 15 working days, the fine is between RON 300 to RON 1,000;<\/li>\n<li>If the delay period is between 16 and 30 working days, the fine is between RON 1,000 to RON 3,000;<\/li>\n<li>If the delay period exceeds 30 working days, the sanction is a fine of between RON 1,500 to RON 4,500.<\/li>\n<\/ul>\n<p><a href=\"#summary\">back to summary \u21d1<\/a><\/p>\n<h2 id=\"5\" style=\"text-align: justify;\"><span style=\"color: #444a7a;\">Law 195\/2022 to complement art. 25 of Accounting Law 82\/1991 (Official Gazette 668\/2022)<\/span><\/h2>\n<h3 style=\"text-align: justify;\"><span style=\"color: #c49573;\">Summary<\/span><\/h3>\n<p>Payroll sheets are kept for 5 years.<\/p>\n<h3 style=\"text-align: justify;\"><span style=\"color: #c49573;\">Details<\/span><\/h3>\n<p>Starting the 1<sup>st<\/sup> of January 2023, <strong>payroll sheets<\/strong> for which the employer has an informative statement on tax withheld, on income beneficiaries, according to legal provisions (form 205) or for which the employer has the legal obligation to submit form 112, are kept for <strong>5 years<\/strong>.<\/p>\n<p><a href=\"#summary\">back to summary \u21d1<\/a><\/p>\n<h2 id=\"6\" style=\"text-align: justify;\"><span style=\"color: #444a7a;\">Emergency Ordinance 104\/2022 to amend and complement Law 17\/2014 on certain measures to regulate the sale-purchase of agricultural lands located outside residential areas and to amend Law 268\/2001 on privatization of companies that manage public and private land owned by the state for agricultural purposes and establishment of the State Domains Agency (Official Gazette 657\/2022)<\/span><\/h2>\n<h3 style=\"text-align: justify;\"><span style=\"color: #c49573;\">Summary<\/span><\/h3>\n<p>The Ordinance clarifies aspects concerning fiscal obligations related to the transfer, through sale of agricultural land located outside the residential area, prior to the end of an 8 year period from the purchase date.<\/p>\n<h3 style=\"text-align: justify;\"><span style=\"color: #c49573;\">Details<\/span><\/h3>\n<p>An 80% tax is due on the positive difference between value of the agricultural land on date of sale of the control package and on date of purchase of the land, determined according to the indicative value established by the expert data drawn up by the National Union of Public Notaries of Romania or the minimum value established by the market study carried out by the National Union of Public Notaries of Romania, as the case may be, during the respective period, in the event of transfer, through sale, prior to completion of the 8-year period after the purchase of:<\/p>\n<ul>\n<li>agricultural land outside residential areas;<\/li>\n<li>the control package of legal entities that own one or more agricultural properties located outside the city and represent more than 25% of real estate properties of the legal entity (representing any land, building or other construction erected or incorporated on land, registered according to applicable accounting regulations).<\/li>\n<\/ul>\n<p>In the situation where the legal entity owns several agricultural properties located outside the city, the 80% tax rate is applied to the total value calculated by adding positive differences related to the acquired land no more than 8 years prior the transfer of the control package, without taking into account any negative differences.<\/p>\n<p>The method of taxation and declaration is different for each situation mentioned above. Thus, in the first situation, related to agricultural land, before authentication of the notarial act through which ownership is transferred, the notary should calculate and collect the tax from the seller, and subsequently should transfer the property by the 25<sup>th<\/sup> of the month following the month when it was collected, to accounts opened at the State Treasury units.<\/p>\n<p>In the case of the sale of control package, the taxpayer has the obligation to declare income obtained within a maximum of 10 days from the date of the transfer to the competent fiscal authority, in order to calculate the tax.<\/p>\n<p>If the transfer of ownership is carried out through a court decision instead of a sales contract, the tax is calculated and collected by the competent fiscal authority, based on the tax decision, within 60 days from the date when the decision was communicated.<\/p>\n<p>The procedure to calculate, collect and pay the tax, as well as the declarative obligations are to be approved by joint order of the Minister of Agriculture and Rural Development and the Minister of Finance, within 60 days from the date GEO 104\/2022 enters into force.<\/p>\n<p>In the case of corporate taxpayers, when calculating the fiscal result, this tax represents a non-deductible expense.<\/p>\n<p><a href=\"#summary\">back to summary \u21d1<\/a><\/p>\n<h2 id=\"7\" style=\"text-align: justify;\"><span style=\"color: #444a7a;\">Decision 931\/2022 to amend GD 1045\/2018 to approve Methodological Norms to apply Law 165\/2018 on granting value tickets (Official Gazette 748\/2022)<\/span><\/h2>\n<p>The Decision updates application norms of Law 165\/2018 to grant value tickets, mostly aiming to harmonize the norms with amendments to the Law in recent years.<\/p>\n<h2 style=\"text-align: justify;\"><span style=\"color: #444a7a;\">Joint Orders 1580\/1098\/2220 of 2022 to approve template, content and modalities to submit and manage &#8220;Return on social contributions, income tax and nominative list of insured persons&#8221;(Official Gazette 715\/2022)<\/span><\/h2>\n<p>Joint Orders issued by the Ministry of Health, the Ministry of Labour and Social Solidarity and the Ministry of Finance update the template and content of Form 112, <em>Return on social contributions, income tax and nominative list of insured persons, <\/em>as well as its annexes.<\/p>\n<p>The new form will apply to declaring income related to the month of June 2022.<\/p>\n<h2 style=\"text-align: justify;\"><span style=\"color: #444a7a;\">Order 1525\/2022 to set Procedure to grant fiscal facilities for agriculture and food industry (Official Gazette 661\/2022)<\/span><\/h2>\n<p>The Order approves Procedure to grant fiscal facilities for the agriculture and food industry, a procedure that applies starting June 2022.<\/p>\n<h2 style=\"text-align: justify;\"><span style=\"color: #444a7a;\">Order 1528\/2022 to set Procedure to grant fiscal facilities in the construction sector (Official Gazette 661\/2022)<\/span><\/h2>\n<p>The Order approves Procedure to grant fiscal facilities in the construction sector, a procedure that applies starting June 2022.<\/p>\n<h2 style=\"text-align: justify;\"><span style=\"color: #444a7a;\">Ordinance 15\/2022 to amend and complement GEO 77\/2009 to organise and operate gambling activities (Official Gazette 716\/2022)<\/span><\/h2>\n<h2 id=\"8\" style=\"text-align: justify;\"><span style=\"color: #444a7a;\">INFO \u2013 Valuation of monetary items in foreign currency<\/span><\/h2>\n<p>The July closing NBR exchange rates to use for valuation of monetary items (cash on hand, receivables, payables) denominated in foreign currency, as well as receivables and payables denominated in RON but pegged to a foreign currency for collection\/disbursement are:<\/p>\n<p>1 EUR = 4.9351 RON; 1 USD = 4.8412 RON; 1 CHF = 5.0783 RON; 1 GBP = 5.8793 RON<\/p>\n<p><a href=\"#summary\">back to summary \u21d1<\/a><\/p>\n","protected":false},"featured_media":1307,"template":"","acf":[],"_links":{"self":[{"href":"https:\/\/nowium.com\/en\/wp-json\/wp\/v2\/bulletin\/1306","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nowium.com\/en\/wp-json\/wp\/v2\/bulletin"}],"about":[{"href":"https:\/\/nowium.com\/en\/wp-json\/wp\/v2\/types\/bulletin"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nowium.com\/en\/wp-json\/wp\/v2\/media\/1307"}],"wp:attachment":[{"href":"https:\/\/nowium.com\/en\/wp-json\/wp\/v2\/media?parent=1306"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}