The General State Budget for 2018, recently enacted by Law No. 3/18, of 1 March 2018, authorizes the President to make several amendments to tax legislation, namely in respect of Investment Income Tax, Consumption Tax and Stamp Duty, as well as amendments to the Customs Code. The amendments include:
- Introducing a regime for the payment of customs debts in instalments;
- Clarifying Investment Income Tax rules to allow stand-alone taxation of capital gains resulting from transfers to individuals, and from individuals to legal persons, of securities on the regulated markets;
- Extending to the financial, telecommunications and mining sectors the regime reversing the obligation to remit Consumption Tax, which is currently applicable to the petroleum sector;
- Subjecting to Stamp Duty: (i) advertising contracts and services; (ii) the issuing of tickets for air and maritime travel on routes that are fully within national territory; (iii) payment receipts of freelance professionals; (iv) service contracts of any kind; and (v) employment contracts of non-resident foreigners;
- Clarifying the regime of taxation responsibility in respect of Stamp Duty.
The 2018 State Budget has maintained the 10% Special Contribution on transfers made under so-called foreign technical assistance or management services contracts.
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