NEW PROVISIONS OF THE TAX CODE MORE EFFICIENT INSTRUMENTS FOR TAXPAYERS AND TAX AUTHORITIES

Transcription

1 Bucharest, NEW PROVISIONS OF THE TAX CODE MORE EFFICIENT INSTRUMENTS FOR TAXPAYERS AND TAX AUTHORITIES Raluca Botea, Senior Associate

2 LEGAL ASPECTS: HOLDING COMPANIES UNDER THE CURRENT LEGISLATION

3 Holding Companies 1 The Holding Company in other EU countries The Holding Company in Romania is specifically regulated is defined as a company with control stakes in other companies part of the same group benefits of certain advantages from a fiscal and operational standpoint there is no generally applicable regulation of the activity of a Holding Company, but just several legal initiatives on the matter is regulated for specific fields of activity has been recently more thoroughly consecrated from a fiscal perspective 3

4 Holding Companies 2 Certain pieces of legislation contemplate the Holding Company existence and include certain specific rules thereof: An insurance holding company is regulated as a parent company having the acquisition and holding of participation in companies acting exclusively/mainly in the insurance/reinsurance field Aholding financial company is regulated as a financial company whose subsidiaries are exclusively/mainly credit or financial institutions The capital markets regulations contemplate the existence of a parent company, which is defined as an institution similar to a Holding Company 4

5 LEGAL ASPECTS: CHALLENGING VAT DECISIONS

6 Challenging VAT Decisions Administrative contestation Must be submitted within 30 days from the communication date of the decision by the fiscal authority The administrative contestation should be solved within 45 days by the competent specialized structure within General Directorate of Public Finances ( DGFP ) The National Agency for Tax Administration ( ANAF ) can transfer the competence to settle the contestation depending of the occupancy of each DGFP (according to ANAF Order no 3333/2011) 6

7 Challenging the Rejection Decision issued by the Competent Tax Authorities in Solving the Administrative Contestation The court action The decision can be challenged within 6 month from the communication date The decision can be challenged upon choice of the claimant, in front of: the competent court who have jurisdiction in the district of the headquarters of the tax authorities which issued the decision the competent court who have jurisdiction in the district of the headquarters of the claimant The claimant can contest the first court decision within 15 days from the communication date. The decision issues by the second court is final 7

8 Object of the Court Action The annulment of the rejection decisions issued by the fiscal authorities Obliging the fiscal authorities to pay the requested VAT amount Obliging the fiscal authorities to pay penalties Obliging the fiscal authorities to pay the expenses made by the claimant in course of the trial 8

9 Difficulties Arising in Course of the Trial The fiscal authorities usually invoke the lack of standing in trial The courts ask to the claimant the proofs of VAT payment despite the provision of the 13th Directive The amendment brought to the fiscal Code starting with : the Tax Code no longer refers to the refund of the tax paid... but to the refund of the tax corresponding to. The problems still exist in the case of non UE countries which have bilateral agreements with Romanian (i.eturcia) where the courts and the fiscal authorities still ask to the claimants to submit the proof that they paid the invoices issued by their suppliers Long duration of the judicial expertise The expenses made in course of the trial 9

10 Your Contact Partner Raluca Botea, Senior Associate T

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