Hospitality industry will pay VAT rate of 15% instead of 20%

The VAT rate for the enterprises of the hospitality industry was cut from 20% to 15% for the duration of the state of emergency. This is provided in the law on the institution of measures to support the citizens and entrepreneurial activities during the state of emergency and to amend particular normative documents for which the Government assumed responsibility before for Parliament on April 1, IPN reports.

According to Deputy Prime Minister Sergiu Pușcuța, Minister of Finance, the deadline for paying local taxes for the first quarter of this year for business entities that stopped work in accordance with the decisions taken by the Commission for Exceptional Situations was extended until July 25.

Under the law, employers’ costs associated with the payment of salaries and allowances to employees in technological unemployment will be subsidized. The subsidy will represent 100% of the taxes and contributions related to salaries and allowances. This applies to business entities that stopped work fully or partially following the decisions taken by the Commission for Exceptional Situations or the National Commission for Public Health.

The companies that stopped work on their own initiative will get a subsidy of 60% of the size of taxes and contributions related to salaries and allowances.

Also, the patent holders who stopped work during the state of emergency were exempted from paying the patent tax and will be refunded the social contributions in fixed amount. The persons who practice independent activities and entrepreneurial activities and stopped work in the period will also be refunded the social contributions.

Any donation made in the course of 2020 to help contain the COVID-19 pandemic into the accounts opened by the Ministry of Finance or the public health facilities will be deducted.

The number of taxes for natural resources was reduced from seven to three: tax for water, tax for extracting useful mineral resources and tax for using subsoil.

Under the Constitution, the Government can assume responsibility before Parliament for a program, a general policy declaration or a bill. If a no-confidence motion is not submitted within three days, the program, general policy declaration or bill is considered adopted.

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