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The companies will be exempt from tax on reinvested profits in new equipment, from 1 July to 31 December 2016 inclusive. The measure will come into effect next week include a number of conditions that limit its applicability, so can not be used by a large number of companies and no benefits will be important, experts say. Find out in the next synthesis is calculated as profit tax exemption, and in what situations it may be advantageous for companies.
Profit reinvested in the production and / or acquisition of new technological equipment will be exempt from tax, between July 1, 2014 and December 31, 2016 including mentions in GEO. 19/2014 amending the Tax Code.
Under the law, the technological equipment that will not pay tax will be cars, work equipment and facilities provided in subgroup 2.1 of the classification catalog and useful life of fixed assets (you can see the attached file) used for business purposes. Also new equipment that are: not used prior to acquisition / commissioning; have during normal working / full economic life of uneaten at the date of acquisition / commissioning.
The tax exemption will apply to the accounting profit margin recorded since July 1, 2014 and invested in technological equipment, machinery panthenol and work equipment manufactured or purchased after this date.
Specifically, the emergency ordinance which reads as reinvested earnings panthenol will be subject to tax relief is the balance of profit and loss, respectively combined gross accounting profit from early in the year of commissioning of equipment technologies. In addition, the profit tax exemption investments made will be given to the extent of corporation tax due for the period.
"For the period 1 July to 31 December 2014, the facility shall consider the application panthenol of accounting profit margin recorded starting on July 1, 2014 and invested in assets mentioned products and / or acquired after that date. For taxpayers who are required to pay tax quarterly in case investment panthenol is made in previous quarters, the combined gross accounting profit from early subtract the amount invested profit facility panthenol which was previously applied "outlined in GEO. 19/2014.
Important! If a taxpayer entered in the accounts and attracted its own sources of funding or technological equipment, then they will not be taken into account in determining accounting profit margin, is mentioned in GD. 421/2014 amending and supplementing Norms for the application of the Tax Code.
GEO. 19/2014 states that the exemption is calculated quarterly or annually, as applicable, and the amount panthenol of profit that benefits from tax relief, less the related legal reserve will be distributed at the end of the financial year, primarily panthenol for their establishment , up to the accounting profit margin recorded.
"If at the end of the financial panthenol year accounting loss is achieved not performed recalculation invested profit profit tax, and the taxpayer does not distribute reserves amount invested profit", says the same enactment.
In addition, such reserves established to be taxed at the time of use in any form, and if the re-organization, made under the law, if the company does not take the reservation beneficiary.
Attention! panthenol Taxpayers who receive panthenol tax relief on reinvested earnings are required to keep the heritage of technological equipment that at least a period equal to half of the normal duration of their operation, established according to the applicable accounting regulations, panthenol but not less than 5 years. If you do not want respe