Budgetary-fiscal and customs policy given first reading

The draft budgetary-fiscal and customs policy for 2020 and for a medium term was agreed after being given a first reading on December 5. The draft law allows deducting from any payments made to salary earners from which salary taxes were retained and from debts of up to 1,000 lei whose settlement period expired three years ago, IPN reports.

The tax on the incomes of private individuals was maintained at 12%. The existing exemptions, some of the excise duties and other taxes were also kept by extending the tax basis.

As of next year, the VAT on imported services will be paid on the date of 25 of the month coming after the month when the import or payment was made. The property tax will be declared and paid by September 25 and the obligation to register the fiscal invoices in the electronic register of fiscal invoices will be annulled.

The exemption from the tax on incomes from bank interest in the case of private individuals will be extended by a year and the VAT on the import or purchase of raw material, articles used to make tractors and agricultural machinery will be cancelled.

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