The Ministry of Public Finance (MFP) presents the new taxation mechanism for income tax, social security contributions (CAS) and health insurance contributions (CASS), with references to its concept and implementation, and specifying its objectives.
By implementing the new taxation mechanism for natural persons, MFP intends to simplify obligations related to filing tax returns through the submission of a single form, and a single payment deadline for the income taxes and mandatory contributions to be paid by natural persons, as well as the possibility pay the income tax for the current year’s estimated income. In addition, according to the new taxation mechanism draft, the assessment for the classification as a CAS and CASS payer is based on the current year’s estimated income, and, furthermore, the tax return may be rectified before the payment deadline.
For further details, please refer to the presentation published by the Ministry of Public Finances (click here).
