The Government Decision no.421/2014 for the amendment and the supplementing of application methodological provisions of Law no.571/2003 on the Fiscal Code approved by the Government decision no.44/2004 was published in the Romanian Official Journal no.384 of May 23, 2014.
These provisions bring clarification mostly regarding the means of applying the regulations regarding the non-taxation of reinvested income and the tax on constructions.
Consequently, in the view of a better understanding of the means of determining the reinvested income, the methodological provisions contain calculation illustrations, classified by disclosure and payment trimestral or annual system for the income tax.
Other provisions refer to the tax payers who employ technological equipment under leases.
Moreover, there are certain clarifications regarding the means of determining the taxation basis for the tax on constructions, taking into consideration certain specific situations following the application that has been correlated to Title 9 of the Fiscal Code and following the accounting disclosure of constructions (for example, accounting for as ongoing investments of constructions carried out as direct labour operations or by contractors, accounting for these operations outside the balance sheet).
