The document summarizes changes made to Romania's Fiscal Code and Fiscal Procedure Code through new ordinances. Key changes include extending the obligation to register service contracts with non-residents, modifying VAT provisions related to construction contracts and intra-Community transactions, revising corporate income tax payment deadlines and definitions, adjusting local property taxes, and providing incentives for taxpayers to pay overdue tax liabilities through reduced penalties.
China: Tax Bulletin-Latest update on VAT RegulationsAlex Baulf
Subsequent to Grant Thornton China's last update in July 2017, this VAT Alert summarizes some of the further significant changes on VAT regulations for your reference.
- Revision of the “Provisional Regulations of the People's Republic of China on Value-added Tax” (Referred to as “VAT regulation revision 2017“)
- Clarification on Input VAT Issues
- VAT regulations on specified financial products
- Changes on VAT invoices
- Simplified tax administration on registration of general VAT payers
China: Tax Bulletin-Latest update on VAT RegulationsAlex Baulf
Subsequent to Grant Thornton China's last update in July 2017, this VAT Alert summarizes some of the further significant changes on VAT regulations for your reference.
- Revision of the “Provisional Regulations of the People's Republic of China on Value-added Tax” (Referred to as “VAT regulation revision 2017“)
- Clarification on Input VAT Issues
- VAT regulations on specified financial products
- Changes on VAT invoices
- Simplified tax administration on registration of general VAT payers
Legislative measures with significant impact in certain industry sectors introduced by the Government Emergency Ordinance No. 114/ 2018 implementing measures in the field of public investments and fiscal-budgetary measures, amending and supplementing normative acts and extending certain deadlines.
Slovakia: Grant Thornton Tax Newsletter December 2015Alex Baulf
Tax Newsletter including:
1. Summary of the most important changes in tax laws valid from 1 January 2016
1
2. Tax return as at 31.12.2015 – changes against the year 2014
3. Tax penalties from 1 January 2016
4. Changes in the Slovak VATAct from 1 January 2016
5. Whistleblowing
On 2 December 2016 the Law Decree 22 October 2016 n. 193 (“Tax decree”) completed its legislative process with the publication in the Official Gazette of the consolidated text, post amendments, occurred at the time of the conversion into Law. Some of the adopted measures are a way to implement the new strategy of the Tax Administration to prevent tax evasion and to reduce the VAT gap. Most of the measures have the aim to modernize the way in which taxable persons accomplish VAT fulfillments, so that these latter can be more effective, leveraging on an intense use of electronic means. Grant Thornton Italy summarize in this VAT Alert, the main changes on VAT rules deriving from the final text of the new provisions.
Through the Fiscal Bulletin sent on September 4, 2017, we announced the introduction of the VAT split payment mechanism by Government Ordinance No. 23/2017. After the Ordinance passed the Parliament approval through a law and the Approval Law was published in the Official Gazette, the VAT split payment mechanism has undergone major changes – in a positive way for most taxpayers.
ALBANIA Chinese citizens excluded from Type C Visa regime
Fiscal package 2020 in Albania
Tax Procedures in Albania 2020
Value Added Tax 2020
Albania Personal And Profit Tax 2020
Albania National Taxes 2020
ALBANIA TAX FREE Real Estate Donation to Family Members 2020
TCG_Newsletter_January and February 2019_EnTham Le
Welcome to our newsletter in January and February 2019. You will find that it is filled with legal regulations in certain areas of business.
We hope this newsletter to keep you updated on the latest legal news and be valuable to your operation.
Thanks for your reading and we would love to hear your comments that could make our reports better and better.
Changes in Polish corporate income tax 2020PwC Polska
Changes in Polish corporate income tax 2020. On 23rd of September our experts: Marcin Jaworski and Michał Jagielski summarized biggest corporate income tax challenges and opportunities for 2020.
More info: https://pwc.to/2lkTbOj
Starting from 1 January 2017 the provisions related to transfer pricing shall significantly change. As they involve new obligations for the tax payers, it is worth starting preparation to the new obligation of providing the required information and new standards of drawing up tax documentation.
We are informing our readers about the most important changes in Russian legislation: news about VAT, corporate income tax, news in labor legislation, etc.
Since 2016 tax agents in Russia will become responsible for reporting the information on the calculated and withheld PIT amounts to the tax authorities on a quarterly basis.
The Romanian government has recently published the Government Ordinance no. 23/30.08.2017 (“GO 23/2017”) for introducing VAT split payment mechanism, as an anti-fraud measure. The implementation of the new VAT split payment mechanism will have a significant impact on the companies being VAT registered in Romania, such as increased administrative burden and cash flow impact, additional costs generated by changes in accounting information systems, additional bank charges and fees.
The purpose of this alert is to highlight the new requirements arising from the implementation of VAT split payment mechanism.
The significant tax regulations came into force as of January 2017 and introduced requirement to demonstrate that terms of cooperation and settlements between related parties were determined in line with the arm’s length principle. Moreover, during 2017 and 2018 some importance long-anticipated decree were published. Those documents implement for example:
Legislative measures with significant impact in certain industry sectors introduced by the Government Emergency Ordinance No. 114/ 2018 implementing measures in the field of public investments and fiscal-budgetary measures, amending and supplementing normative acts and extending certain deadlines.
Slovakia: Grant Thornton Tax Newsletter December 2015Alex Baulf
Tax Newsletter including:
1. Summary of the most important changes in tax laws valid from 1 January 2016
1
2. Tax return as at 31.12.2015 – changes against the year 2014
3. Tax penalties from 1 January 2016
4. Changes in the Slovak VATAct from 1 January 2016
5. Whistleblowing
On 2 December 2016 the Law Decree 22 October 2016 n. 193 (“Tax decree”) completed its legislative process with the publication in the Official Gazette of the consolidated text, post amendments, occurred at the time of the conversion into Law. Some of the adopted measures are a way to implement the new strategy of the Tax Administration to prevent tax evasion and to reduce the VAT gap. Most of the measures have the aim to modernize the way in which taxable persons accomplish VAT fulfillments, so that these latter can be more effective, leveraging on an intense use of electronic means. Grant Thornton Italy summarize in this VAT Alert, the main changes on VAT rules deriving from the final text of the new provisions.
Through the Fiscal Bulletin sent on September 4, 2017, we announced the introduction of the VAT split payment mechanism by Government Ordinance No. 23/2017. After the Ordinance passed the Parliament approval through a law and the Approval Law was published in the Official Gazette, the VAT split payment mechanism has undergone major changes – in a positive way for most taxpayers.
ALBANIA Chinese citizens excluded from Type C Visa regime
Fiscal package 2020 in Albania
Tax Procedures in Albania 2020
Value Added Tax 2020
Albania Personal And Profit Tax 2020
Albania National Taxes 2020
ALBANIA TAX FREE Real Estate Donation to Family Members 2020
TCG_Newsletter_January and February 2019_EnTham Le
Welcome to our newsletter in January and February 2019. You will find that it is filled with legal regulations in certain areas of business.
We hope this newsletter to keep you updated on the latest legal news and be valuable to your operation.
Thanks for your reading and we would love to hear your comments that could make our reports better and better.
Changes in Polish corporate income tax 2020PwC Polska
Changes in Polish corporate income tax 2020. On 23rd of September our experts: Marcin Jaworski and Michał Jagielski summarized biggest corporate income tax challenges and opportunities for 2020.
More info: https://pwc.to/2lkTbOj
Starting from 1 January 2017 the provisions related to transfer pricing shall significantly change. As they involve new obligations for the tax payers, it is worth starting preparation to the new obligation of providing the required information and new standards of drawing up tax documentation.
We are informing our readers about the most important changes in Russian legislation: news about VAT, corporate income tax, news in labor legislation, etc.
Since 2016 tax agents in Russia will become responsible for reporting the information on the calculated and withheld PIT amounts to the tax authorities on a quarterly basis.
The Romanian government has recently published the Government Ordinance no. 23/30.08.2017 (“GO 23/2017”) for introducing VAT split payment mechanism, as an anti-fraud measure. The implementation of the new VAT split payment mechanism will have a significant impact on the companies being VAT registered in Romania, such as increased administrative burden and cash flow impact, additional costs generated by changes in accounting information systems, additional bank charges and fees.
The purpose of this alert is to highlight the new requirements arising from the implementation of VAT split payment mechanism.
The significant tax regulations came into force as of January 2017 and introduced requirement to demonstrate that terms of cooperation and settlements between related parties were determined in line with the arm’s length principle. Moreover, during 2017 and 2018 some importance long-anticipated decree were published. Those documents implement for example:
When it's Spring again I'll bring again
Tulips from Amsterdam
With a heart thats true I'll give to you
Tulips from Amsterdam
I can't wait until the day you fill
These eager arms of mine
Like the windmill keeps on turning
That's how my heart keeps on yearning
For the day I know we can share these
Tulips from Amsterdam
Share these tulips from Amsterdam
NATO School Magazine ADL 10 Years Special issueGigi Roman
We are proud to feature the PfP Consortium ADL Working Group in this Special Edition of the NATO School Today. Over the past ten years, the working group, commonly referred to as the ADL WG, has spearheaded an effort to bring innovative and effective methods, practices and technology to the NATO Alliance and the Partnership for Peace Program to enhance education and training initiatives.
Congratulations to all members and supporters. We hope you enjoy this short chronicle of some of the events of the past ten years and we thank the contributors for offering their perspectives of where we’ve been and where we’re headed.
Technology has changed, but the goals of sharing content and concepts via multinational networks have only grown stronger over the years, as we hope you will see in following articles. Even though we celebrate past successes, the ADL WG must not rest on its laurels. The Alliance and its Partners need our outputs more than ever as the challenges, such as the Afghanistan mission, are some of the largest ever facing NATO.
Anny Serafina Love - Letter of Recommendation by Kellen Harkins, MS.AnnySerafinaLove
This letter, written by Kellen Harkins, Course Director at Full Sail University, commends Anny Love's exemplary performance in the Video Sharing Platforms class. It highlights her dedication, willingness to challenge herself, and exceptional skills in production, editing, and marketing across various video platforms like YouTube, TikTok, and Instagram.
Understanding User Needs and Satisfying ThemAggregage
https://www.productmanagementtoday.com/frs/26903918/understanding-user-needs-and-satisfying-them
We know we want to create products which our customers find to be valuable. Whether we label it as customer-centric or product-led depends on how long we've been doing product management. There are three challenges we face when doing this. The obvious challenge is figuring out what our users need; the non-obvious challenges are in creating a shared understanding of those needs and in sensing if what we're doing is meeting those needs.
In this webinar, we won't focus on the research methods for discovering user-needs. We will focus on synthesis of the needs we discover, communication and alignment tools, and how we operationalize addressing those needs.
Industry expert Scott Sehlhorst will:
• Introduce a taxonomy for user goals with real world examples
• Present the Onion Diagram, a tool for contextualizing task-level goals
• Illustrate how customer journey maps capture activity-level and task-level goals
• Demonstrate the best approach to selection and prioritization of user-goals to address
• Highlight the crucial benchmarks, observable changes, in ensuring fulfillment of customer needs
Navigating the world of forex trading can be challenging, especially for beginners. To help you make an informed decision, we have comprehensively compared the best forex brokers in India for 2024. This article, reviewed by Top Forex Brokers Review, will cover featured award winners, the best forex brokers, featured offers, the best copy trading platforms, the best forex brokers for beginners, the best MetaTrader brokers, and recently updated reviews. We will focus on FP Markets, Black Bull, EightCap, IC Markets, and Octa.
Event Report - SAP Sapphire 2024 Orlando - lots of innovation and old challengesHolger Mueller
Holger Mueller of Constellation Research shares his key takeaways from SAP's Sapphire confernece, held in Orlando, June 3rd till 5th 2024, in the Orange Convention Center.
FIA officials brutally tortured innocent and snatched 200 Bitcoins of worth 4...jamalseoexpert1978
Farman Ayaz Khattak and Ehtesham Matloob are government officials in CTW Counter terrorism wing Islamabad, in Federal Investigation Agency FIA Headquarters. CTW and FIA kidnapped crypto currency owner from Islamabad and snatched 200 Bitcoins those worth of 4 billion rupees in Pakistan currency. There is not Cryptocurrency Regulations in Pakistan & CTW is official dacoit and stealing digital assets from the innocent crypto holders and making fake cases of terrorism to keep them silent.
LA HUG - Video Testimonials with Chynna Morgan - June 2024Lital Barkan
Have you ever heard that user-generated content or video testimonials can take your brand to the next level? We will explore how you can effectively use video testimonials to leverage and boost your sales, content strategy, and increase your CRM data.🤯
We will dig deeper into:
1. How to capture video testimonials that convert from your audience 🎥
2. How to leverage your testimonials to boost your sales 💲
3. How you can capture more CRM data to understand your audience better through video testimonials. 📊
Digital Transformation and IT Strategy Toolkit and TemplatesAurelien Domont, MBA
This Digital Transformation and IT Strategy Toolkit was created by ex-McKinsey, Deloitte and BCG Management Consultants, after more than 5,000 hours of work. It is considered the world's best & most comprehensive Digital Transformation and IT Strategy Toolkit. It includes all the Frameworks, Best Practices & Templates required to successfully undertake the Digital Transformation of your organization and define a robust IT Strategy.
Editable Toolkit to help you reuse our content: 700 Powerpoint slides | 35 Excel sheets | 84 minutes of Video training
This PowerPoint presentation is only a small preview of our Toolkits. For more details, visit www.domontconsulting.com
The 10 Most Influential Leaders Guiding Corporate Evolution, 2024.pdfthesiliconleaders
In the recent edition, The 10 Most Influential Leaders Guiding Corporate Evolution, 2024, The Silicon Leaders magazine gladly features Dejan Štancer, President of the Global Chamber of Business Leaders (GCBL), along with other leaders.
Discover the innovative and creative projects that highlight my journey throu...dylandmeas
Discover the innovative and creative projects that highlight my journey through Full Sail University. Below, you’ll find a collection of my work showcasing my skills and expertise in digital marketing, event planning, and media production.
At Techbox Square, in Singapore, we're not just creative web designers and developers, we're the driving force behind your brand identity. Contact us today.
Top mailing list providers in the USA.pptxJeremyPeirce1
Discover the top mailing list providers in the USA, offering targeted lists, segmentation, and analytics to optimize your marketing campaigns and drive engagement.
3.0 Project 2_ Developing My Brand Identity Kit.pptxtanyjahb
A personal brand exploration presentation summarizes an individual's unique qualities and goals, covering strengths, values, passions, and target audience. It helps individuals understand what makes them stand out, their desired image, and how they aim to achieve it.
Recruiting in the Digital Age: A Social Media MasterclassLuanWise
In this masterclass, presented at the Global HR Summit on 5th June 2024, Luan Wise explored the essential features of social media platforms that support talent acquisition, including LinkedIn, Facebook, Instagram, X (formerly Twitter) and TikTok.
1. Changes brought to the Romanian Fiscal Code
(Government Ordinance 30/2011 for the amendment of Law 571/2011 regarding the Fiscal Code, as
well as for the enforcement of other financial measures, published in the Official Gazette no. 627
of 2 September 2011)
The amendments brought to the Fiscal Code refer mainly to:
General provisions
the obligation to register the service contracts concluded with non-resident providers
(companies or individuals) with the tax authorities is extended to apply also to
Romanian permanent establishments of non-resident companies;
VAT
with regard to services triggering successive settlements or payments (construction,
assembling, consultancy, professional expertise, etc), the provision requiring the
maximum settlement period to be of one year has been eliminated;
starting with the declarative obligations of August 2011, the monthly recapitulative
statement related to intra-community supplies and/or acquisitions carried out (form
390) must be submitted until the 25th of the month following the one in which the
transactions were performed;
mandatory reverse charge on local Romanian transactions has been extended to
include the following categories of supplies:
supply of ferrous and non-ferrous waste, as well as used and recyclable material
consisting of cullet, glass, paper, paperboard and board, rags, rubber and plastic;
supply of the above mentioned materials after processing by cleaning, polishing,
selection, cutting, fragmenting, pressing or casting into ingots;
DCTAX S.R.L. Contact:
Str. Ermil Pangrati nr. 21, Sector 1, Bucuresti Emilia Dragu Alina Zarzu
Tel: 031 229 2200; 031 229 2201; Fax: 031 229 2202 emilia.dragu@dctax.ro alina.zarzu@dctax.ro
2. the level of fines for failure to submit on time or submitting incorrect or incomplete
EC Sales and Purchases Lists (recapitulative declaration 390) is modified as follows:
RON 1,000 – 5,000 for not submitting the declaration within the legal deadline;
RON 500 – 1,500 for submitting incorrect or incomplete declarations.
The fine does not apply if companies amend an EC Sales and Purchase List within the
legal deadline for submitting the next similar declaration or if the corrected
declaration has been initially erroneously submitted for reasons other than the
taxpayer’s own fault.
The new level of fines applies for contraventions spotted after 17 September 2011. For
services, the above mentioned fine is applicable only for failures occurring in relation to
services rendered or received after 17 September 2011.
Corporate income tax
the definition of transfer of shares performed between companies residing in different EU
member states was amended;
new provisions regarding taxation of the members of associations with legal personality,
incorporated in other states than Romania and which perform activities in Romania, as well
as new provisions related to their declarative obligations are instated;
starting 1 January 2013, companies may opt for annual payment and reporting of the
corporate income tax due with quarterly prepayments at the level of ¼ of the
corporate income tax paid by the company in respect of the previous year. However,
this option is available only for companies currently paying corporate income tax under the
actual figure system (i.e. not in a tax loss position). Newly set up companies, as well as
companies making fiscal losses in the previous year cannot opt for this system either. Once
opting for this system, companies may revert to the previous actual-figure payment system
only after 2 consecutive fiscal years.
starting with the fiscal year 2012, the deadline for annual reporting and settlement of
corporate income tax liabilities will be the 25th of March of the year following the one
in which the income was obtained.
Local taxes
for buildings not revaluated for accounting purposes for more than 3 years, the
applicable rate of local tax will be as follows:
DCTAX S.R.L. Contact:
Str. Ermil Pangrati nr. 21, Sector 1, Bucuresti Emilia Dragu Alina Zarzu
Tel: 031 229 2200; 031 229 2201; Fax: 031 229 2202 emilia.dragu@dctax.ro alina.zarzu@dctax.ro
3. between 10% and 20% for buildings which have not been revaluated in the last
3 years;
between 30% and 40% for buildings which have not been revaluated in the last
5 years.
The tax rate is applied to the inventory value of the building, until the end of the month in
which the revaluation is performed.
the tax rate applicable to buildings with touristic destination is of minimum 5% of the
book value of the building;
the hotel tax is reduced from 3% to 1% per day of the value of the accommodation
fee paid;
Changes brought to the Romanian Fiscal Procedure Code
(Government Emergency Ordinance 29/2011 for the amendment of Government Ordinance 92/2003
regarding the Fiscal Procedure Code, published in the Official Gazette no. 626 of 2 September 2011)
the tax registration certificate will be issued by the tax authorities within 10 days from
submission of the registration application (the previous deadline was of 15 days);
undisputed, liquid and due amounts that are to be cashed by the taxpayer from
contracting public authorities under contracts for public acquisition/works/services
can now be mentioned on tax certificates issued by the tax authorities. These will be
included based on a document issued by the contracting authorities certifying that the
amounts are undisputed, liquid and due;
starting 1 October 2011, the order in which tax payments are matched against tax liabilities
owed by the taxpayer is changed – the principal of the tax obligations are offset with priority,
followed by ancillary fiscal obligations such as late payment interest and late payment
penalties. The new settlement order reduces the level of late payment penalties due
for overdue tax obligations.
New fiscal incentives
new provisions with regard to cancelation of late payment penalties related to tax
liabilities overdue as at 31 August 2011, as follows:
DCTAX S.R.L. Contact:
Str. Ermil Pangrati nr. 21, Sector 1, Bucuresti Emilia Dragu Alina Zarzu
Tel: 031 229 2200; 031 229 2201; Fax: 031 229 2202 emilia.dragu@dctax.ro alina.zarzu@dctax.ro
4. if the tax liabilities and related late payment interest are voluntarily paid or offset
against other tax credits until 31 December 2011, the late payment penalties
accrued in relation to such tax liabilities will be cancelled and 50% of the late
payment raises (late payment penalties due before April 2010) will be forgiven;
if the tax liabilities and related late payment interest are voluntarily paid or offset
against other tax credits until 30 June 2012, the late payment penalties due will be
reduced to 50% and the late payment raises due (if any) will be reduced to
25%.
amendments brought to the tax debts rescheduling procedure: the value of guarantees
required to be provided is diminished, introduction of new conditions to be met in order
not to lose the validity of the tax debts reschedule plan, taxpayers are granted a
respite for the payment of late payment penalties due for tax liabilities included in the
debt reschedule plan and their total cancelation once the last debt rescheduling
instalment is paid.
Bucharest, 13 September 2011
DCTAX S.R.L. Contact:
Str. Ermil Pangrati nr. 21, Sector 1, Bucuresti Emilia Dragu Alina Zarzu
Tel: 031 229 2200; 031 229 2201; Fax: 031 229 2202 emilia.dragu@dctax.ro alina.zarzu@dctax.ro