Earlier this July, G.E.O. no. 5/2020, for the amendment and completion of the Law no. 207/2015, regarding the Fiscal Procedure Code, and for extension of certain terms was adopted.
The COVID-19 pandemic has effects in all sectors of the economy, both in the EU and worldwide. By default, economic operators responsible for reporting are faced with serious work-related disruptions, mainly caused by working conditions at a distance, as a result of measures to restrict movement of people in most Member States. In order to avoid the risk of non compliance by certain categories of taxpayers, in the sense that they may not fulfill their new reporting obligations and be subject of sanctions provided by law, the 30-day period provided in art. 2944 para. (1) and para. (10) of Law no.2017/2015 on the Fiscal Procedure Code, is extended.
This shall start to run no later than January 1st, 2021, for cross-border arrangements that are the subject of reporting made available for implementation, or for which the first step in the implementation process is made between July 1st, 2020 – December 3rd, 2020.
Also, the term provided by art. 2914 para. (21) of the Fiscal Procedure Code, within which the National Agency for Fiscal Administration communicates the first information through automatic exchnage, is extended until April 30, 2021.
