The Government decision no.421/2014 for the amendment and the supplement of the methodological standards for the application of Law no.571/2003 concerning the Fiscal Code, approved by the Government decision no.44/2004 has been published in the Romanian Official Journal no.384 of May 23, 2014.
These standards broadly bring certain clarifications on the means of applying the regulations related to the tax exemption the reinvested profit and to the tax on constructions.
Other clarifications relate to tax payers that use technological equipment under leasing contracts.
They also detail on the means of determining the taxable basis for the tax on constructions taking into account certain specific situations related to the application under Title IX of the Fiscal Code or following the disclosure of construction operations in the accounting records (i.e. accounting for as ongoing investments of constructions carried out as independent projects or through a contractor, off-balance sheet accounting).
