Important changes to the fiscal and fiscal procedure codes: Details regarding submission process

Two weeks ago I posted some important information regarding the changes done to the fiscal procedures codes, analyzed by VTM, Vulpoi & Toader Management, a leading accounting firm in Romania (www.vtm.ro). You can read this article here: (article).

Today let us check the additional information on the new changes of the deadlines for mandatory statements. I think this should be regarded as very important data which is why I suggest you read through it carefully. After all, information IS power!

“Details on the submission of D112 "Statement of obligations to pay social contributions, income taxes and nominal record of insured persons:

The National Agency for Tax Administration (ANAF) published on Thursday this week, for public debate, the draft Order for the approval of the content and form of the "Statement on the option for submitting the monthly statement of obligations to pay social contributions, income tax and nominal records of insured persons".

For the Statement 112 related to fourth quarter 2011, the monthly deposit option must be communicated to the competent fiscal authority until September 25, 2011.

The form is to be completed in duplicate, enrolling in capital letters, legibly and correctly all data provided. Thus, a copy signed and stamped by law, will be submitted to the tax directly to the registry or by mail, by registered letter. A second copy will be kept by the taxpayer.

Even if based on the recent amendments to the Tax Code, the Government has created the possibility that some entities may prepare a quarterly tax return in October, regulation is not mandatory. Companies are able to remain in a system of monthly reporting, if they express their option to the tax authority.

Companies may choose to submit monthly statement up to 31 January.

Warning! For the declaration related to the fourth quarter 2011, the monthly deposit option must be communicated to the competent fiscal authority on September 25, 2011.

Also, taxpayers who, by law, are required to quarterly submit the statement D112, but have opted for monthly deposit can return to quarterly reporting regime by filing a statement on the option until January 31.

We want to draw attention on the fact that individuals and legal entities treated as employers or similar to a employer are required to submit the declaration of obligations to pay social contributions, income taxes and nominal records of insured persons (Statement 112) by remote electronic means, on the portal e-Romania.

Since the transition period has expired, when it was possible to submit this statement in paper format to the tax authorities, the tax payers should take all necessary steps to obtain a qualified electronic signature certificate. The necessary steps in obtaining such certificate are to be followed on the ANAF website under ‘Taxpayers Assistance’”