Tax changes regarding Environmental Fund legislation
Tax changes regarding Environmental Fund legislation
On 28 December 2017, an Order of the Environmental Ministry, to modify Order No. 578 / 2006 of the Ministry of Environment and Water Management on the methodology for calculating contributions and taxes to the Environment Fund, was published in the Official Journal of Romania, no. 1030.
The new version of the Methodology keeps most of the previous rules, but it also introduces several new provisions and clarifications.
Firstly, the new Order introduces a chart on the process of waste recovery, to enable companies to determine whether the packaging waste provided to businesses with environmental authorizations can be taken into account for the purposes of individual fulfillment of the annual targets for recovery through recycling.
An important change is the integration into environmental legislation of the ”substance over form” principle, according to which inspectors within the Environmental Fund Administration (”EFA”) may disregard a transaction that has no economic purpose or may reclassify a transaction, in order to reflect its true economic purpose.
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