A draft resolution has been published on the institution`s website by the Ministry of Public Finance (MFP) for consultation for the amendment and supplementation of the Methodological provisions for the application of the Law no. 227/2015 regarding the Fiscal Code, approved by GD no. 1/2016.
According to the initiators, this project comes as a result of:
- The clarification of the fiscal treatment applicable to the compensation operations within the acquisition contracts for defense, public order and national security-related needs;
- The need for correlation with the requirements of the Fiscal Code following the consecutive amendments made to it;
- The need to follow certain recent decision of the Court of Justice of the European Union;
- The requirements of art. III of Law no. 131/2020 for the supplementation of para. 8 of art. 270 of Law no. 227/2015 regarding the Fiscal Code and for the amendment of the Law no. 217/2016 regarding the reduction of food waste, published in the Official Gazette of Romania no. 623 from 15thof July 2020;
- The need for the introduction of a requirement regarding the VAT regime related to the loan management and/or loan guarantees operations, performed within the syndicated loan contracts, in accordance with the Guidance agreed by the VAT Committee within the European Union;
- The need to clarify the VAT regime related to the operations of management of occupational pension funds, regulated by Law no. 1/2020 regarding occupational pensions.
According to the explanatory memoranda, the amendments expected to be made through this legal act consider the following:
- Title II “Income tax”
It is proposed to supplement the examples presented within item 13, para. 2 of the provisions with a new letter containing requirements regarding the fiscal regime of the expenditures incurred by taxpayers as a result of the participation on compensation operations regarding the acquisition contracts for defense, public order and national security-related needs, as these are regulated by GEO no.189/2002, consisting in the production of equipment, technics, technology, materials, products that are subject to the acquisition contract or the provision of services that contribute to the implementation and exploitation in good conditions of the equipment and products acquired.
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