Amendment of the law regarding the Fiscal Code, as well as the law on profit/income tax
At the end of last week, the law for amending and supplementing Law no. 227/2015 on the Fiscal Code, as well as for the completion of law no. 170/2016 regarding the tax specific to certain activities, was adopted.
According to the law, taxpayers who purchase electronic fiscal cash registers, deduct their purchase cost from the profit tax due for the quarter in which they were put into operation, if they owe quarterly profit tax, or from the annual profit tax, in the case of taxpayers who apply the annual income tax return and payment system. Thus, the amounts that are not deducted from the profit tax are reported in the next 7 consecutive years, and the recovery of these amounts is being made in the order of their registration, at each term of payment of the profit tax.
Also, the taxpayers who owe the income tax of micro-enterprises, at the date of determining the income tax of micro-enterprises for the 4th quarter of 2020, will deduct from the income tax of micro-enterprises and the purchase cost of electronic fiscal cash registers.