(Order no. 1985/2012 published in the Official Gazette no. 16/9 Jan. 2013)

The Order approves the procedure for the registration of the fiduciary and rental contracts, together with the template and content of the related registration forms. The trustee should submit the

registration form with the relevant fiscal authorities within 30 days from the conclusion of the fiduciary contract. The registration form should be accompanied by the fiduciary contract, in original and copy.

Lessors, natural persons, who derive income from rental of goods from own patrimony and opt for determining the net income under real system, have the obligation to register the rental contracts

as per art. 81(2) of the Fiscal Code (within 15 days from the conclusion of the contract), together with the filing of Form 220 – “Statement regarding the estimated income/income quota”.

The registration of the rental contracts is optional for lessors, other than individuals, and also for individuals who derive income from land rental for which the tax is final.

Amendments to the filling instructions of Form 394

(Order no. 1992/2012 published in the Official Gazette no. 17/9 Jan. 2013)

The Order amends the filling instructions of the Form 394 (included in the Order 3596/2011) in order to provide for the obligation to declare also local transactions subject to VAT cash-in system. The amended instructions are applicable for the operations performed starting with January 2013.

The level of local taxes for 2013

(Ordinance no. 1/2013 published in the Official Gazette no. 18/9 Jan. 2013)

The Ordinance sets out the possibility for the local authorities to issue decisions regarding the reduction, for 2013, of the level of the local taxes and the taxable basis (established through the Government Decision no. 1309/2012 regarding the local taxes applicable starting with 2013) not lower than the levels applied for 2012.

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

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