Form 012 – “Notification regarding the change of the annual/quarterly system of reporting and payment of the corporate income tax”

(Order no. 1994/2012 published in the Official Gazette no. 9 / 7 January 2013)

The Order approves the form and content of the Form 012 - “Notification regarding the change of the annual/quarterly system of reporting and payment of the corporate income tax”. This form must be submitted by the corporate income tax payers who want to apply the annual system of reporting and payment of the corporate income tax, with quarterly advance payments, or to stop using this system.

The Form 012 shall be submitted to the competent tax authorities by 31 January of the year for which the application of the system is requested The option for the application of the annual reporting and payment system of the corporate income tax is mandatory for at least two consecutive fiscal years.

By Venkatesh Srinivasan, Partner – Head of Tax and Legal, Ernst & Young Romania 

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