In particular, if the annual taxable value of the company’s supplies does not exceed the legal threshold of 1.7 million lei, it will be able to submit an application to the State Tax Service to cancel the status of VAT payer, which will be considered by the agency within 10 working days without conducting a tax audit.
If there are no risks, the State Tax Service will have to take a positive decision on the taxpayer’s request. The proposals are contained in a new legislative initiative of deputies of the Our Party faction, which has been registered in parliament.
In the justification to the draft, the authors note that a significant part of enterprises registered in the period when the threshold amounted to 1.2 million lei. Subsequently, their turnover decreased for various reasons and, according to the current norms, they no longer meet the criteria for registration as VAT payers.
Therefore, the authors propose to grant the right to voluntarily renounce the status of value added tax payer if the enterprise no longer meets the criteria prescribed in the Tax Code.
In addition, the authors of the draft propose that the VAT liability relating to goods and fixed assets of a taxpayer deregistered as a VAT payer could be paid in equal installments over a 12-month period. For this purpose, he would be entitled to submit an application to the STS, which would approve a schedule for its repayment.
No penalties should be applied during this period, provided that the payment deadlines are met. Otherwise, the remaining amount of the obligation will be payable in the general order.
