Romania Latest On Fiscality

ROMANIA: LATEST ON FISCALITY State budget law for 2009, no 18/2009, established the budgets allocated this year for the following state aid schemes: Government Decision no 753/2008 regulating a new state aid scheme on supporting regional development by stimulating investment, a budget of RON 40 000 thousand for 2009. According to Ministry of Public Finance information available on the website http://www.mfinante.ro/, beginning with March 16, 2009, the applications for Agreement-inprinciple for Financing can be submitted, along with the justificatory documents, according to item 2 of chapter 3 of annex 2. The documents will be submitted at the General Registry of M.F.P., specifying on the envelope “State aid scheme on supporting regional development by stimulating investment”. Government Decision no 1164/2007 regarding the granting of de minimis state aid for the development or modernization of enterprises, a budget of RON 6 219 thousand for 2009. According to Ministry of Public Finance information available on the website http://www.mfinante.ro/, beginning with March 16, 2009, the applications for Agreement-inprinciple for Financing can be submitted, along with the justificatory documents, according to item 1.2. of chapter 6 of annex 2. The documents will be submitted at the General Registry of M.F.P., specifying on the envelope “Unit for implementing de minimis state aid scheme”. Government Decision no 1680/2008 implementing a new state aid scheme for ensuring sustainable economic development, a budget of RON 150 000 thousand for 2009. According to Ministry of Public Finance information available on the website http://www.mfinante.ro/, beginning with March 16, 2009, the applications for Agreement-inprinciple for Financing can be submitted according to article 12, item 3 of H.G. no 1680/2008, along with the justificatory documents stipulated at item 1, sub item 1.2 of chapter 5 of annex no 3. The documents will be submitted at the General Registry of M.F.P., specifying on the envelope “State aid scheme for ensuring sustainable economic development”. Also, through order no 269/2009 of the Minister of Public Finance, the General Unit for State Aid, Disloyal Practice and Regulated Prices was appointed Unit of Implementation of the state aid scheme established by H.G. 1680/2008 for setting up a new state aid scheme for ensuring sustainable economic development.

Romanian Government adopted Emergency Ordinance no. 200/2008 on modifying and completing Law no. 571/2003 - the Fiscal Code of Romania. New measures adopted by the Romanian Executive stipulate among other issues the taxexemption of reinvested dividends. Thus, starting with 2009, dividends reinvested for maintaining and increasing new jobs for developing the activity of Romanian legal persons distributing dividends, according to the purpose registered at the National Trade Registry Office, are exempted from tax on dividends. Dividends invested in the authorized capital of another Romanian legal person for creating new jobs, for developing its activity, according to the object of activity registered at the National Trade Registry Office are also dividend tax exempted. Emergency Ordinance no. 200/2008 comes into force on 1st of January 2009.