The companies with taxable incomes lower than 600,000 lei will be able to register themselves voluntarily as VAT payers if they intend to deliver and provide taxable goods and services. They will thus not have to reach the level of 100,000 lei to become VAT payers, IPN reports, quoting the 2015 state budget law adopted by the Government by assuming responsibility for it before Parliament.
The law provides that the companies registered as VAT payers that, starting with May 1, 2015, will make investments in production and service facilities will have the right to be refunded the VAT, but only after these facilities start to be used.
According to the independent think tank “Expert-Grup”, these provisions of the 2015 state budget law are awaited and welcomed by the economic entities.
“Expert-Grup” approves of the introduction of a common fiscal approach towards all the education institutions, no matter whether they are state or private. These will be exempted from paying tax on incomes earned from providing education services, but will have to pay tax on money coming from leasing out areas, producing something or providing calculation services. The same approach will be used as regards the exemption of the education institutions from paying VAT on goods and services.
The provision allowing deducting the annual costs incurred by the employer for paying the employee’s optional health insurance premiums, in the amount of up to 50% of the mandatory health insurance premium calculated in fixed amount (4,056 lei in 2015), is also good and opportune. It is a stimulus for developing the optional health insurance market, but this provision should be yet more clearly explained.
Less welcome is the provision that excludes the redundancy payments from the category of non-taxable incomes. These payments will be taxed according to the general principles.
The diminution of the cap on deductions for fiscal purposes from donations made for philanthropic or sponsoring purposes by private individuals and legal entities to public authorities or institutions, noncommercial organizations or family-type children’s homes from 10% in 2014 to 2% this year also caused more negative reactions. The Ministry of Finance explained this modification by the necessity of reducing the number of cases of tax evasion by using fictitious donations made in exchange for salaries.
