The deadline for submission of declaration 700 for small companies to exit the micro-business taxation system will be April 15, 2024, instead of March 31, ANAF said in a press release.

“To analyze the establishment of the upper limit of EUR 500,000 in the case of “related enterprises”, taking into account the proposed changes regarding “related enterprises” from the draft emergency decree on the regulation of certain fiscal and budgetary measures, as well as to amend and supplement certain regulatory acts posted on the website of the Ministry of Finance from March 13, 2024, it follows that the Ministry of Finance will propose an extension of the period provided for in Art. 55 par. (2) and in par. (5) from Law No. 227/2015 on the Fiscal Code, with the following amendments and additions, to notify the tax authorities of references regarding the application/exit of the income taxation system of micro-enterprises, from March 31, 2024 to April 15, 2024, inclusive,” it is stated in the message of ANAF.

The Government should adopt this amendment this week.

According to the Ministry of Finance, two companies are considered related under the following conditions:

• the Romanian legal entity has, directly and/or indirectly, more than 25% of the value/quantity of participation rights or voting rights in another Romanian legal entity or has the right to appoint or remove the majority of the board members, directors, management or supervision of another Romanian legal entity;

• the legal entity owns, directly and/or indirectly, more than 25% of the value/quantity of participation rights or voting rights, or has the right to appoint or recall the majority of the members of the board of directors, management or supervision of Romanian legal entities;

• a Romanian legal entity is related to another Romanian legal entity if the person owns, directly and/or indirectly, more than 25% of the value/quantity of participation rights or voting rights or has the right to appoint or recall the majority of the members of the board of directors, management or supervision as in the first a legal entity, as well as in a second legal entity;

• a shareholder/associate of a Romanian legal entity that owns, directly and/or indirectly, more than 25% of the value/quantity of participation rights or voting rights of this Romanian legal entity, carries out economic activity through an authorized natural person individual enterprises / family enterprises / other form of economic organization activities without the right of a legal entity, authorized in accordance with current legislation. At the same time, the incomes of the authorized natural person/individual enterprise/family enterprise/other form of economic organization without the status of a legal entity, authorized in accordance with the current legislation, registered in accordance with the current accounting regulations, are accumulated with those made by the Romanian legal entity/other related enterprises.