1. VAT rate decreases from 20% to 19%
2. Disappears the construction tax, better known as the “pillar tax”
3. Regulation of the conditions under which persons who have opted for a fiscal year other than the calendar year may return to the calendar fiscal year or choose to change the period of the amended fiscal year
4. Extends the application of the tax-exempt facility to the reinvested profit and the right to use software
5. The expenses incurred for the organization and conduct of vocational and technical education are included in the category of deductible expenses, according to the legal regulations in the field of national education.
6. The obligation to register the taxable person in the Register of Intra-Community Operators shall be repealed if he carries out transactions with economic partners in other Member States.
7. Introduce a special VAT regime for farmers. The percentage of compensation in the flat rate is 1% for 2017, 4% for 2018 and 8% starting in 2019.
8. The social health insurance contribution will be capped the contribution of social health insurance to the value of 5 times the average gross earnings. Individuals who earn income from intellectual property rights, investment income and income from other sources will owe the social health insurance contribution for these income, whether or not they make other income.
9. No more shall be filed the declaration 205 payers of income from wages and salaries, from the recovery in any form of intellectual property rights, from pensions, from the lease, as well as from legal persons who have the obligation to calculate, withhold and pay the tax due by the natural person from the ass with a legal person pursuant to Article 125 para. (8) and (9) of the Tax Code, which have the obligation to file the Declaration on obligations to pay social contributions, income tax and nominal record of insured persons for each beneficiary of income – form 112.
10. Less harsh measures with regard to the deduction of VAT where the taxable person has the VAT code automatically cancelled by the tax authority:
the taxable person exercises the right to deduct for purchases of goods and/or services made during the period in which he had the registration code for VAT purposes cancelled, by entering in the first tax statement filed after registration or, as the case may be, in a subsequent statement, even if the invoice does not include the vat registration code of the taxable person. Beneficiaries have the right to deduct VAT after the VAT re-registration of the supplier who previously had the invalid VAT code.
By the end of this year it is possible to apply other changes, but the above waves of those already established. So we aim to bring you the latest news so that you can make the best decisions regarding your business. We are also open to providing information to get closer to understanding financial-accounting and tax changes.