Merchants believe the Government's intention to tax free coupons given by companies and by stores to individuals will see trade contract even further, with financial analysts wondering how this tax will be collected, considering that, in theory, it should be paid by the beneficiary, i. e. by the person who receives the coupon because it can be considered an income. A draft emergency ordinance to modify the Fiscal Code, which introduces the taxation of coupons, but does not specify clearly who pays the tax.
The Fiscal Code will be modified again via an emergency ordinance, with its leading provisions including a return to the withholding at source of capital market taxes (which reduces the number of tax returns that need to be filed for securities transfers), as well as the extension of the tax base by eliminating tax exemptions for free coupons given to individuals. The draft ordinance also introduces equal treatment of Romanian and foreign companies, meaning that foreign companies based in the EU and in the EEA (Iceland, Liechtenstein, Norway, and Switzerland) will pay a higher tax on dividends derived in Romania, up from 10% to 16%, similarly to Romanian companies, unless they meet the conditions that allow them to be exempt from it.
Merchants believe the Government's intention to tax free coupons given by companies and by stores to individuals will see trade contract even further, with financial analysts wondering how this tax will be collected, considering that, in theory, it should be paid by the beneficiary, i. e. by the person who receives the coupon because it can be considered an income. A draft emergency ordinance to modify the Fiscal Code, which introduces the taxation of coupons, but does not specify clearly who pays the tax.
The Fiscal Code will be modified again via an emergency ordinance, with its leading provisions incl