LEGISLATIVE NEWS

Stock Option Plan Taxation

The Stock Option Plan (SOP) is an instrument aiming to motivate and reward a company’s employees by giving them the right to opt, at a future date, for the purchase of company shares at a preferential price (or even to receive such shares for free).

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VAT adjustment for outstanding invoices where the limitation period has been exceeded – specific case

According to the tax provisions in force, the tax base in the case of invoices that have been issued but have not been collected may be adjusted upon the opening of bankruptcy proceedings or upon the implementation of a reorganization plan.

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Tax facilities - new time limits

The fiscal amnesty regulated by Emergency Government Ordinance no. 69/2020 which approved the tax facility consisting in the cancelation of interest, penalties and other ancillary amounts related to the main obligations overdue on 31 March 2020 has been extended. To benefit from this facility, the taxpayer must submit to the competent tax body a request for the cancelation of ancillary amounts.

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Reverse charge for the import of electronic devices

Beginning with 2021, the reverse charge mechanism is applied to the import of certain electronic devices, by showing the tax in the VAT statement both as a collected tax, and as a deductible tax for:

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Declaration of income obtained by non-residents in 2020

For the non-residents who obtain taxable income in Romania, the income payer is required to calculate, withhold, declare and pay income tax.

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Subsidies received from ANOFM

The Government Emergency Ordinance (OUG) No 132/2002 regulated a financial aid amounting to RON 2,500 to support the employers who adopted teleworking in their activity. This amount is the maximum amount granted for each employee, which the employer may receive in order to purchase the goods required for carrying out its activity by teleworking.

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