Antonescu, Mihai and Antonescu, Ligia (2007): The obligations of VAT payers regarding the ‘reverse taxation’ and the tax adjustment for fixed assets. Published in: Analele , Vol. No. 35, (2007): pp. 142-153.
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In accordance with the provisions of Title VI regarding VAT from the Fiscal Code, the suppliers and the beneficiaries of certain goods delivery or services registered with VAT aims, are obliged to apply simplification measures also called “reverse taxation”. The supplier is obliged to write on the issued invoices the mention “reverse taxation” without registering the afferent tax, and the beneficiary will write down the afferent tax and will emphasize it in tax deduction not only as a collected tax but also as a tax deductible, without paying the tax to the supplier. For tax-exempted operations regarding the lease, the granting or the renting of fixed assets, as well as the construction delivery by any person, or of some part of it or of the land on which it is built, as well as of any other land, there are applied adjustment measures of the deducted/undeducted tax.
|Item Type:||MPRA Paper|
|Original Title:||The obligations of VAT payers regarding the ‘reverse taxation’ and the tax adjustment for fixed assets|
|Keywords:||tax adjustment, fixed asset, finishing-construction works, persons subject to taxation, “reverse taxation”|
|Subjects:||H - Public Economics > H2 - Taxation, Subsidies, and Revenue
K - Law and Economics > K3 - Other Substantive Areas of Law > K34 - Tax Law
|Depositing User:||Mihail Antonescu|
|Date Deposited:||10. Oct 2008 07:30|
|Last Modified:||16. Feb 2013 04:56|
1) ANTONESCU, M., Harmonization of the national legislation regarding VAT completed with the provisions of the European Communities Directives, The Fiscal Courier Review, no 8/2006, pages 23-25.
2) Law no 571/2003 regarding the Fiscal code, modified and completed by Law no 343/2006 published in the OM no 662/the first of August 2006.
3) Government’s Decision no 1861/2006 for the modification and completion of the methodological norms of application of Law no 571/2003 regarding the Fiscal Code, published in the Official Monitor no 1044/29.12.2006.
4) Order no 155/2007 regarding the application of simplification measures for finishing – construction works stipulated at Article no 160 of Law no 571/2003 regarding the Fiscal Code, with ulterior modifications and completions, published in the Off. M> no 94/06.02.2007.