Lecture 10. A General Overview of the Income Tax 1. 2. 3.

A General Overview of the Income Tax Coverage Scope of the Income Tax Ded ction! Allowed for Taxation " rpo!e! "art 1. A General Overview of the Income Tax In the #$ the nitar% income tax wa! introd ced on 1.&1.'( and replaced three taxe!) the profit tax of enterpri!e!* the individ al income tax* and the profit tax of +an,! and other crediting in!tit tion!. In mo!t co ntrie! of the world individ al and corporate income tax var%- thi! i! wh% the nification of the!e taxe! i! an innovation in the taxation practice. The income tax ! +.ect! compri!e . ridical and nat ral per!on! receiving income from an% !o rce! on the territor% of the #$ d ring the taxation %ear* and . ridical per!on!/ re!ident!* which receive inve!tment and financial income from !o rce! o t!ide the #$. Since there are vario ! interpretation! of the term! individ al and compan% in the taxation and civil legi!lation* we will explain !ome of them. According to the taxation legi!lation . ridical per!on! are) 1. An% enterpri!e!* in!tit tion!* and organi0ation! involved in enterprene rial activit% with the exception of individ al enterpri!e! and farm!. 2. 1on/re!ident! with an economic pre!ence on the #$ territor% According to the taxation legi!lation nat ral per!on! are the individ al enterpri!e! and farm!. According to the taxation legi!lation* taxation ! +.ect! are the entitie! legall% re!pon!i+le for pa%ing taxe!. The income tax o+.ect i! the net income* incl ding the allowance! received from all !o rce! +% all . ridical and nat ral per!on! min ! the ded ction! and exemption! granted to the given entit% +% law. The taxed income2net income 3acco nting for conce!ion!4/ded ction!/exemption!. 5or 2&&' the income taxe! are impo!ed a! follwo!) A4 74

5or . ridical per!on! the% con!tit te &6 of taxa+le income 5or nat ral per!on! incl ding farm! and individ al enterpri!e! 86 of the ann al taxa+le income not exceeding 292&& lei 1(6 of the taxa+le income exceeding 292&& lei "art 2. Coverage Scope of the Income Tax

The net income covered +% the income tax incl de! all t%pe! of income) 1. Income from enterprene rial* profe!!ional or an% t%pe of ! ch activit%. 2. Income of a!!ociation! and inve!tment f nd! 3. "a%ment for the wor, exec ted and !ervice! provided* incl ding !alarie! and wage!* +enefit! offered +% the emplo%er* fee!* commi!!ion fee!* +on !e! and other ! ch t%pe of premi m!:. Income from renting o t wealth9. Capital increa!e! re! lting from a!!et operation!;. Income received in the form of percentage intere!t rate!8. #o%altie! 3income from providing the right to tili0e non/material propert%4-

(. '. 1&. 11.

Ann itie! 3reg lar in! rance pa%ment!* pen!ion! and +enefit! with the exception of !ocial !ec rit% pa%ment! and +enefit! 3pen!ion! and compen!ation!4 received on +a!i! of intergovernmental agreement!4State ! +!idie!* premi m! and pri0e!* not defined !pecificall% a! non/taxa+le in the law e!ta+li!hing the!e pa%ment!Dividend! received from economic ! +.ect! non/re!ident!Allowance! for temporar% ina+ilit% to wor,* received +% nat ral per!on! from the !tate !ocial !ec rit% f nd and other!. "art 3. Ded ction! Allowed for Taxation " rpo!e!

Ded ction! are defined a! the ! m! ded cted from the net income of the pa%er at the calc lation of the taxa+le income. In conformit% with the TC* for the p rpo!e! of determining the taxation +a!i!* it i! permitted to ded ct from the net income the following item!) 1. #eg lar and nece!!ar% expen!e! pa%ed or +o rne +% the pa%er d ring the taxation %ear excl !ivel% in the p rpo!e! of the enterprene rial activit%2. <xpen!e! related to the + !ine!! trip! of emplo%ee!* mem+er!hip fee!* compan% in! rance pa%ment!* + t onl% within the limit! e!ta+li!hed +% the Government3. "ercent al di!+ r!ement! if the!e are nece!!ar% o tflow! for the enterprene rial activit% and if the ma.orit% of the !hareholder! are not foreign citi0en! or exempt from taxation:. Accr ed wear and tear for each t%pe of propert% d ring the taxation %ear9. Spending! related to the extraction of non/renewa+le nat ral re!o rce!;. Amorti0ation of each non/material propert% item 3invention patent!* a thor right!* ind !trial drawing! and +l eprint! with a limited life/time48. 7ad de+t!* which have lo!t val e and are not expected to +e pa%ed d ting the taxation %ear. It i! not allowed to ded ct the following o tflow!)

S m! pa%ed for the p rcha!e of land or propert%* which i! ! +.ect to depreciation or of fixed a!!et! with a lifetime longer than 1 %earCompen!ation! and reward!* percentage intere!t rate! and lo!!e!* inc rred in the intere!t! of an official or related per!on=ndoc mented expen!e! a+ove the limit e!ta+li!hed +% the government"er!onal and famil% expen!e!.

>ect re 11. "artic lar A!pect! of Individ al Income Taxation "referential Taxation Treatment for the Individial Income Tax Calc lation $ethod! of the Income Tax S +tracted from Salarie! and ?age! Income Tax Ded ction! from "a%ment! Other than Salarie! and ?age! S +mi!!ion of Individ al Income Tax Self/a!!e!!ment! "art 1. "referential Taxation Treatment for the Individial Income Tax

1. 2. 3. :.

<ach taxpa%er 3individ al per!on* re!ident4 in the %ear 2&&' ha! the right to a per!onal tax exemption of 82&& lei per %ear. The amo nt of the individ al preferential exemption con!tit te! 12&&& lei per %ear"er!on! who have contracted and experienced radiation/ related illne!! ca !ed +% the accident at the Cerno+il A<S. 1. Di!a+eled per!on!* who!e di!a+ilit% ha! +een proven to +e related to the accident at the Cerno+il A<S. 2. "arent! and !po !e! of decea!ed and mi!!ing participant! to the militar% operation! for the protection of the territorial integrit% and independence of the #$ a! well a! to the militar% operation! in the #ep +lic of Afgani!tan. 3. Di!a+led per!on!* who!e di!a+ilit% occ rred d ring militar% operation! for the protection of the territorial integrit% and independence of the #$ a! well a! to the militar% operation! in the #ep +lic of Afgani!tan. :. Di!a+led nat ral per!on!* who!e di!a+ilit% occ rred d ring war!* di!a+le from childhood* di!a+led of categor% I or II or retired individ al! who are reha+ilitated victim! of political repre!!ion!. $arried individ al! re!ident! of the co ntr%* have the right to an additional di!co nt in the ! m of 82&& per %ear* thi! allowance ha! the name of married co ple@! allowance* which i! applied if the !po !e i! not exempt from tax. The taxpa%er 3the individ al re!ident4 ha! the right to an additional di!co nt in the amo nt of 1;(& lei per %ear for each dependent with the exception of di!a+led individ al!* who!e di!a+ilit% appeared in childhood* the di!co nt for whom con!tit te! 82&& per %ear. In ca!e the dependent ha! a n m+er of c !todian!* the di!co nt i! offered to all the c !todian!. 5or tax di!co nt p rpo!e!* a dependent m !t meet the following criteria) 7e a primar% relation to the emplo%ee or the !po !e of the emplo%ee either thro gh a!cending or de!cending relation 3parent!* children* adopter!4. >ive together with the taxpa%er or !eparatel%* + t the latter applie! onl% in ca!e! where the dependent i! enrolled f ll/time in an in!tit tion of higher ed cation for more than five month! of the taxation %ear. I! +eing maintained +% the taxpa%er Doe! not have an income higher than 82&& lei per %ear. "art 2. Calc lation $ethod! of the Income Tax S +tracted from Salarie! and ?age! According to the legi!lation of the #$* the emplo%er exec ting the pa%ment! of !alarie! and wage!* incl ding rem neration! and allowance! offered to the emplo%ee i! o+ligated to retain and tran!fer income taxe! to the + dget* ta,ing into acco nt the exemption! that appl% to each emplo%ee. Taxe! are retained from an% t%pe of income) !alarie! and wage!* reward!* !alar% +on !e!* premi m!* ! +!idie!* fee!* commi!!ion fee! and other pa%ment!. The taxa+le income al!o incl de! allowance! offered +% the emplo%er* ! ch a!)

1. 2. 3. :. 9.

"a%ment! offered +% the emplo%er for the p rpo!e of reim+ r!ing per!onal expen!e! of the emplo%ee! 3thi! can incl de !pending! for ed cation* health care* or the maintenance of children in pre/!chool in!tit tion!4The cancellation of the emplo%ee@! de+t! to the emplo%er5inancial aid provided +% the emplo%er for ho !ing expen!e! of the emplo%ee* when the ho !ing i! provided +% the emplo%er<xpen!e! of the emplo%er for providing the emplo%ee with the right to !e propert% for per!onal p rpo!e!Contri+ tion! to pen!ion f nd!* with the exception of contri+ tion! to A alified non/ governmental pen!ion f nd!.

The net income of the emplo%ee doe! not incl de the following t%pe! of income) 1. In! rance compen!ation! o+tained a! a re! lt of in! rance contract!2. Compen!ation! received a! a rem neration for health in. rie!* incl ding ca!e! of di!a+ilit% incident!3. St dent allowance! for high !chool* ndergrad ate and po!tgrad ate !t dent!* !cholar!hip! from charit% organi0ation! a! well a! one/time grant! pa%ed to %o ng profe!!ional! offered .o+! in r ral area! according to the !taff di!tri+ tion:. Alimonie! and child maintenance allowance!9. >eave allowance!;. Special compen!ation! for the le!! privileged and !ociall% v lnera+le !ocial gro p!8. ?ealth received a! a gift or thro gh inheritance(. Allowance! received from charit% organi!ation! and other!. According to the #$ legi!lation* the calc lation of the income tax retained at the !o rce and tran!ferred to the + dget i! done according to the per!onal record +oo,. "art 3. Income Tax Ded ction! from "a%ment! Other than Salarie! and ?age! 14 Dividend taxation. #e!ident! of the #$ pa% divident! from the net profit! remaining after income taxation and the% do not retain an% income taxe! on the dividend! at the !o rce of pa%ment. Bowever* in the ca!e! where the economic ! +.ect pa%! divident! to it! !hareholder! re!ident! of the #$ from profit! +efore taxe!* heC!he m !t retain from the dividend amo nt an income tax of 196 Tax retention on percentage intere!t rate! and ro%altie!. <ach pa%er of percentage intere!t rate! and ro%altie! m !t retain a! income tax an amo nt eA al to 196 of the percentage intere!t rate! and ro%altie!. Tax retention from other pa%ment!. <ach per!on 3re!ident4 involved in enterprene rial activit%* or in!tit tion* organi0ation* p +lic a thorit% or p +lic in!tit tion of the #$* which pa%! for !ervice!* retain! a! part of the tax 96 from the amo nt corre!ponding to the ! m pa%a+le. Service! incl de) rent* adverti!ing !ervice!* a dit* management* mar,eting and con! lting* !ec rit% of individ al!* propert% and !ervice! related to the in!tallation* exploitation and repair! of comp ter!. "art :. Individ al Income Tax Self/a!!e!!ment! Income taxe! are tran!ferred to the + dget according to the place of re!idence of the economic ! +.ect* who made the tax retention!. In all the ca!e!* the taxe! retained at the !o rce of pa%ment m !t +e tran!ferred to the + dget not later than on the 1& th of the month following the month when the retention wa! made. The economic ! +.ect* who made the tax retention* i! o+ligated to pre!ent to the territorial taxation in!pectorate DThe #eport

24 34

on the Income Tax #etained from Salarie! and ?age! and "a%ed to the 7 dget for the Taxation "eriodE within 1& da%! after the end of the month when the retention wa! made or within 1& da%! after the termination of activit%. The following categorie! m !t pre!ent an individ al income tax !elf/a!!e!!ment each %ear +efore $arch 31!t) 1. 1at ral per!on!Fre!ident! with the o+ligation to pa% taxe!2. 1at ral per!on!Fre!ident! receiving income from !o rce! other than !alarie! and wage! exceeding the per!onal exemption of (1&& lei per %ear3. Tho!e who received a !alar% or wage a+ove 292&& lei per %ear* with the exception of ph%!ical per!on! who received the income in the form of !alar% in one !ingle wor,place:. Tho!e who received income either in the form of !alar% or in an% other form and from an% !o rce* exceeding 292&& per %ear.

Lecture 12. Specific Characteristics of Income Taxes for Selected Categories of Juridical persons 1. 2. 3. :. Taxation of Separate Taxpa%er Categorie! Taxation of A!!ociation! and Inve!tment 5 nd! Taxation of G alified 1on/governmental "en!ion 5 nd! Taxation of <conomic Agent! 1on/#e!ident! "art 1. Taxation of Separate Taxpa%er Categorie! Since there are difference! +etween the taxation arrangement! for vario ! t%pe! of economic agent!* we will loo, into the pec liaritie! of the following taxpa%er categorie!) " +lic A thoritie! are exempt from income tax if the% are financed +% the !tate and local + dget. The income earned +% the!e +odie! from !econdar% economic activitie! are covered +% the income tax* however* and it i! allowed to appl% to them the di!co nt! !tip lated in the TC. 1on/commercial organi!ation!. The!e incl de the following) 1. Bealth care* ed cation* !cience and c lt ral in!tit tion!2. A!!ociation! of the +lind* deaf* de!a+led and the enterpri!e! e!ta+li!hed for achieving the goal! of the!e a!!ociation!* !ocial a!!ociation!* religio !* and charita+le organi!ation!3. Trade and la+o r nion!* a!!ociation! of veteran!* emplo%er!* enterprene r! and individ al farmer!:. "artie! and other !ocio/political organi!ation!. 1on/commercial organi!ation! are expempt from taxe! if the% f lfill the following reA irement!) 14 The% are regi!tered according to the legi!lation 24 The !e all of their income for achieving their o+.ective! 34 The% do not !e an% part of the propert% or income for the +enefit of an% one mem+er of the organi!ation or an% one individ al :4 The% do not ! pport an% political part%* election +loc, or candidate for a p +lic a thorit% po!ition* and are not !ing an% part of the income or propert% for the financing of the a+ove 3thi! doe! not appl% to item :4. The legal !tat ! of diplomatic repre!entative! of foreign !tate! i! reg lated +% the law of the #$ on the !tat ! of Diplomatic #epre!entative Office! of 5oreign State! in the #$. The diplomatic repre!entative office and it! !taff are offered a preferential tax treatment and imm nitie! for the p rpo!e of f lfilling their d tie!. According to agreement! with the government! of other co ntrie! and with the leader! of international organi!ation!* the !taff! of diplimatic repre!entative office! and their con! ltant! are exempt from pa%ing taxe! on the income received in the #$. "art 2. Taxation of A!!ociation! and Inve!tment 5 nd! An a!!ociation i! an% organi!ation involved in enterprene rial activit% on +a!i! of partner!hip and which i! fo nded in conformit% to the legi!lation. =! all%* a!!ociation! do not have more than 2& mem+er!/re!ident! and meet the reA irement! of the proportional di!tri+ tion of gain! and lo!!e! +etween the owner! of capital. A!!ociation! do not pa% income taxe!. Thi! i! related to the fact that each income component i! di!tri+ ted

among the mem+er! of the a!!ociation!. <ach mem+er of the a!!ociation pa%! income tax !eparatel%* depending on the income earned d ring the given taxation %ear. Income tax calc lation! for inve!tment f nd! if are ! +.ect to !pecial r le!. An% inve!tment f nd ha! !everal t%pe! of income* which it i! o+ligated to di!tri+ te to it! !hareholder!the!e are) 1. The dividend! received from the economic ! +.ect who!e !hare! +elong f ll% or partiall% to the I52. Capital increa!e! of the I5 gained a! a re! lt of operation! on the !toc, mar,et3. "ercentage intere!t rate! received a! a re! lt of inve!ting the f nd! of the I5. 1. Dividend!* capital increa!e! and percentage intere!t rate! are t%pe! of I5 income that are acco nted for in a !eparate income acco nt. The pa%ment! made +% the I5 to it! !hareholder! in accordance with the n m+er of !hare! +elonging to each !hareholder of the f nd are made from !eparate income acco nt! and are taxed when the% reach the !hareholder* i.e. a! if the% had +een received +% the !hareholder witho t the participation of the f nd. "art 3. Taxation of G alified 1on/governmental "en!ion 5 nd! The creation of non/governmental pen!ion f nd! allow! for imporvement! in the !ocial in! rance !tat ! of emplo%ee!. Bowever* the reA irement! that have to +e met +% A alified pen!ion f nd! entail ! ch !trict limitation!* that the creation of even a few ! ch f nd! i! pro+lematic. 7elow are the condition! that non/governmental pen!ion f nd! have to compl% with) 1. 2. 3. :. 9. The !hare of the emplo%ee in the capital or income of ! ch a f nd m !t +e tran!ferred immediatel% to a !eparate acco nt and it i! for+idden to remove f nd! from thi! acco nt +efore the emplo%ee reache! the retirement age* die! or +ecome! de!a+led. In ca!e of the emplo%ee@! death* the f nd! remaining in hi!Cher acco nt are paid to the inheritor!. The a!!et! and income of ! ch a f nd i! ,ept in a !eparate acco nt* in a financial in!tit tion. The f nd provide! for a rea!ona+le protection of the f nd! form +eing lent* from !ale of a!!et! and form !imilar operation!. The f nd !ho ld +e regi!tered in accordance with the #$ legi!lation.

The ! m paid on +ehalf on an individ al +% hi!Cher emplo%er d ring the taxation %ear to a A alified non/governmental pen!ion f nd with the p rpo!e of acc m lation i! ! +tracted from the net income of the individ al* + t onl% with the condition that thi! ! m doe! not exceed 196 of the income earned +% thi! individ al d ring the taxation %ear. The income of the A alified non/governmental pen!ion f nd i! not taxa+le nder the income tax* + t an% pa%ment! from the f nd are incl ded in the net income of the receiver. "art :. Taxation of <conomic Agent! 1on/#e!ident! An% income received +% a non/re!ident ma% +e received either in the #$ or o t!ide it! +order!. Income !o rce! in the #$ incl de the following) 14 "ercentage intere!t rate! on loan o+ligation! of the #$ p +lic a thoritie!* an economic ! +.ect/re!ident or a re!ident a!!ociation-

24 34 :4 94 ;4 84

Dividend! paid +% a re!ident economic ! +.ectIncome fom wor, activit% and !ervice! provided in the #$Income from renting o t in the #$ real e!tate and mova+le!Income from the !ale of real e!tate located in the #$Income from the !ale of mova+le! 3with the exception of !toc, of good!4* given that the + %er i! a re!ident#o%altie! and contri+ tion! on in! rance and rein! rance contract!* which have +een !igned in the #$.

The criterion for defining the income of the non/re!ident a! received o t!ide the +order! of the #$ i! the impo!!i+ilit% to related the given income to the one received in the #$. The non/re!ident! who receive taxa+le income in the #$ are al!o granted ded ction!* which red ce the taxa+le income amo nt* + t thi! onl% applie! to the partic lar income. All reven e! received +% non/re!ident! on the territor% of the #$ are taxed at the rate of 96* whith the exception of ro%altie!* taxed at the rate of 196 and in! rance and rein! rance contract!Fat the rate of 26.

Lecture 13. The Determination of the Income Tax Amount for Entities Involved in Enter reneurial Activit! 1. 2. 3. The Determination of the Income Taxation O+.ect 1orm! and #eg lation! =!ed for Ad. !ta+le <xpendit re! Income Tax Self/a!!e!!ment! of the <ntitie! Involved in <nterprene rial Activit% "art 1. The Determination of the Income Taxation O+.ect ?hen determining the taxation o+.ect* the financial re! lt on the entit% involved in enterprene rial activit%* which i! determined in conformit% with the reA irement! of the 1ational Acco nting Standart!* i! ad. !ted 3increa!ed or decrea!ed4 for !ome expen!e! and reven e!* ta,ing into con!ideration the provi!ion! of the TC. In order to determine the ! m of the taxa+le income* the financial re! lt! ! m i! increa!ed +% the ad. !ted amo nt for reven e! and decrea!ed +% the ad. !ted amo nt for expen!e!. The provi!ion! !ed for reven e ad. !tment! are the following) 14 The re! lt of capital a!!et! operation! are taxed at the rate of 9&6 of the ! m24 Intere!t reven e! on +an, depo!it! and !tate +ond! are not chargea+le to taxation ntil &1.&1.2&1&. "art 2. 1orm! and #eg lation! =!ed for Ad. !ta+le <xpendit re! The #$ legi!lation incl de! the following norm! and reg lation! relevant for ad. !ting expen!e! for taxation p rpo!e!) <xpen!e! related to the + !ine!! trip! of emplo%ee! . The !tr ct re and proced re of determining + !ine!! trip! expen!e! on the territor% of the #$ and of CIS co ntrie! i! reg lated +% the re!ol tion of the #$ government* which !tip late! that) A4 tran!portation expen!e! for travel within the #$ and in CIS co ntrie! are reim+ r!ed according to ! pporting doc ment! or to the minim m tic,et co!t- 74 di rnal expen!e! are reim+ r!ed in the amo nt of 39 lei for each da% !pent on a + !ine!! trip within the territor% of the #$* except for the depart re and ret rn da%!* when di rnal expen!e! are

reim+ r!ed at a rate of 9&6- C4 lodging expen!e! are e!ta+li!hed a! 8& lei on the territor% of the #$ and 19& lei in Chi!ina . #epre!entative expen!e!. The maxim m amo nt allowed for ded ction! a! repre!entative expen!e! con!tit te) &.96 of the net income received from the !ale of merchandi!e 3inventor% t rnover4- 16 of all the taxa+le income amo nt in accordance with the TC. <xpen!e! n! pported +% doc mented evidence. It i! allowed to ! +tract inc rred and pa%ed expen!e! related to the enterprene rial activit% and which cannot +e ! pported +% doc mented evidence in the amo nt of &.16 of the taxa+le income. Donation! for charita+le ca !e!. It i! allowed to ! +tract doc mented expen!e! for charita+le ca !e! in a ! m that doe! not exceed 1&6 of the taxa+le income +efore acco nting for the relevant exemption! !tip lated in the TC. <xpen!e! for the maintenance* repair and recon!tr ction of fixed a!!et! . If d ring a certain taxation %ear the expen!e! for the maintenance* repair and recon!tr ction of fixed a!!et! doe! not exceed 1&6 from the co!t +a!e of the given propert% categor%* the ! +traction of the!e expen!e! i! allowed for that %ear- if however* ! ch expen!e! exceed 1&6 of the co!t +a!e of the fixed a!!et!* the ! rpl ! amo nt i! defined a! expen!e! for recon!tr ction and are cla!!ified into the fixed a!!et! acco nt. The determination of depreciation for taxation p rpo!e!. The amo nt of the ! +traction d ring the taxation %ear on one or another categor% of propert% i! determined +% appl%ing to the co!t +a!e of one or another categor% of propert% 3at the end of the taxation %ear4 the following depreciation norm!) I propert% categor%F96* II categor%F (6* III categor%F1&6* IH categor%F2&6* and the H categor%F3&6.

<I<#CIS<. The financial re! lt of an enterpri!e for the %ear 2&&2 con!tit ted 9&&*&&& lei. Income tax retained at the pa%ment !o rce amo nted to 1&*&&& lei* and the amo nt pa%ed in in!tallment! wa! 12&*&&& lei. Determine the amo nt of the income tax pa%a+le to the + dget given the following data a+o t the reven e! and expen!e! of the enterpri!e) Indicator! Amo nt indicated in the 5inancial Statement 1&&&& 2&&& 3&&& 9&&& Amo nt Difference indicated 33/24 for taxation p rpo!e! 9&&& /9&&& & & & /2&&& /3&&& /9&&& /19&&& 9&&& /2&&& /2&&& 1&&&

1. Capital a!!et! operation! re! lt! 2. 6 intere!t reven e! from the Central 7an, 3. 6 intere!t reven e! on +an, depo!it! :. Dividend! received from re!ident! Total ad. !tment of reven e! 1. 5ixed A!!et! Depreciation 2. <xpen!e! for 5ixed A!!et! repair! 3. Inc rred expen!e! related to the Central 7an, Total ad. !tment of expen!e!

"art 3. Income Tax Self/A!!e!!ment! of <ntitie! Involved in <nterprene rial Activit% According to article (3 of the Taxation Code* the follwing categorie! of entitie! involved in enterprene rial activit% are o+ligated to ! +mit an income tax !elf/a!!e!!ment) 14 J ridical per!on! re!ident!* with the exception of p +lic a thoritie! and !tate in!tit tion!* 24 <nterpri!e!/re!ident! with the !tat ! of an individ alFindivid al enterpri!e! and farm!* 34 "ermanent repre!entative office! of non/re!ident! of the #$* :4 J ridical per!on! non/re!ident! o+ligated to pa% income taxe!. The !elf/a!!e!!ment m !t +e ! +mitted to the G1S at the place of regi!tration 3the endor!ement of the fi!cal code4 not later than the 31 $arch of the %ear* following the taxation/reporting %ear. If the taxpa%er termintate! the activit% d ring the taxation %ear* the per!on in charge i! o+ligated to anno nce the taxation in!pectorate within 9 da%! after the termination of activit% a+o t it* and* within ;& da%!* to ! +mit an income tax !elf/a!!e!!ment for the entire period of the reporting %ear* d ring which the compan% wa! involved in enterprene rial activit%. The taxpa%er* who!e taxation o+ligation! exceeded :&& lei d ring the taxation %ear i! o+ligated to pa% not later than on the 31.&3* 3&.&;* 3&.&' and 3.12 of the taxation %ear the ! m eA al to one fo rth of the) S m calc lated a! the tax pa%a+le for that %ear Tax pa%a+le for the previo ! %ear.