Amendments to the Methodological Norms for the application of the Fiscal Code

Following the publication of Decision no. 1393/2024 in the Official Gazette on 11 November 2024, the Methodological Norms for the application of Law no. 227/2015 (the Fiscal Code) with respect to minimum turnover tax, microenterprise income tax, excise duties and other special duties were introduced/ amended as follows:

Minimum turnover tax

• Clarifications were made to the Methodological Norms regarding the calculation of minimum turnover tax, the additional tax levied on credit institutions and the additional tax on legal entities engaged in activities in the oil and natural gas sectors;
• The main provisions of the norms refer to the formula used to calculate the total revenue (TR) indicator, the determination of the value of external tax credits, sponsorships and/or acts of patronage (which are deducted from the minimum turnover tax), and the determination of the amount of quarterly corporate income tax due;
• It is stated that corporate income tax at the level of the minimum turnover tax represents corporate income tax for the application of double taxation treaties;
• Examples are provided of minimum turnover tax calculations compared with corporate income tax calculations for taxpayers who apply the quarterly/annual system of declaring and paying corporate income tax, as well as for those who apply the rules of tax consolidation

Source: Decision no. 1.393/2024 regarding the modification and supplementation of the Methodological Norms for the application of Law no. 227/2015 (the Fiscal Code), approved by Government Decision no. 1/2016, and amending Article 9, para. (1) of Government Decision no. 1.342/2024 on the approval of the “De minimis aid for the implementation of the Program to support the production of vegetables grown in protected areas” scheme, for the period 2024-2025