Tax news 2021

Tax news 2021

Topic: Tax news  2021

Ms. Contilia returns from vacation with financial information and essential updates for any accountant who wants to keep up with the balance sheets and the pulse of the Romanian economic market.

The vacations between 2020 and 2021 were well deserved for all business sectors. The beginning of the year brought some good news, which we will discuss in this article. Briefly, starting with the year 2021, we will finally be able to talk about economic optimism as an inescapable reality. The exit from the current crisis, which is being felt all over the planet, will come in confident and practical steps, especially after the active immunization of the population.

Great news for remote workers!

The Law 296/2020, published in the Official Gazette on December 21 (amending and supplementing Law No. 227/2015 on the Tax Code), provides that employers will be able to give to remote workers about 400 lei per month to pay for utilities.

The amounts issued are not subject to taxation. They are not included in the calculation base for social contributions and are fully deductible in determining the tax result.
Moreover, companies will be able to provide all home workers with these amounts in supporting documents from the beneficiaries.

The minimum salary was increased by 3%.

Thus, the minimum salary has reached RON 2,300 gross.

The increase in the minimum salary has been published in the Official Journal.

The economy’s gross minimum salary has increased to RON 2,300 on January 2021. That means people will receive RON 1,386 net minimum salary, more than RON 40 in 2020.

This is not the long-awaited RON 105 increase at the end of last year that I discussed in a previous article, but it is understandable in the current economic climate.

Note that in theory the increase in the minimum salary should have been applied from January 1, but the text of the government decree in the Official Gazette states that the increase applies from the day the law came into force, i.e., from the middle of January.

Romania is the country within the European Union where the minimum salary has a low share of the average salary.

ANAF has changed the Unified Declaration of Income Taxes for 2021

First of all, we would like to draw your attention to the fact that the time for filing the Unified Declaration of Income Taxes 2021 by individuals is until May 25.

At the end of last year, the ANAF submitted for discussion a new draft order approving the sample, content, submission procedure and maintenance of Form 212 “Unified Declaration of Income Taxes and Social Contributions Due to Individuals”. This new type of form is effective starting Jan. 15, 2021. Here are the main differences:

· Chapter I has two separate sections, number 5 and number 6, for the establishment and declaration of taxpayers’ tax liability and for the granting of exemptions under Emergency Government Regulation No. 30/2020 and Emergency Government Regulation No. 132/2020;

·A brief introduction has been added to Chapter I, Section 4, containing the lines necessary to apply Law 153/2020 regarding the deduction of the cost of purchasing electronic fiscal cash registers from the annual income tax.

·The headings of rental income for tourism purposes in Chapter II, “Tax Data on Estimated Income/Income Type […]”, have been deleted.

·The Section 7, “Summary of Liabilities Related to Earned Income Tax and Social Security Contributions Due on Current Returns,” in Chapter I of the form has been updated.

·It is essential to note that all instructions for completing the single return have been updated accordingly.

The updates are handy for the entire accounting world!

With 1C:Contabilitate application package, you will always be up-to-date on legislation, with updates as they occur, quickly and accurately.

We plan to continue to grow with you in 2021 and be with you, providing important legislative updates and some ambitious projects that we hope you’ll take part in!

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