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Law No. 54 Of 1 June 1992 Concerning Tax On The Amounts Derived From The Sale Of Assets Of Companies With State Capital

Original Language Title:  LEGE nr. 54 din 1 iunie 1992 privind impozitul pe sumele obţinute din vînzarea activelor societăţilor comerciale cu capital de stat

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LEGE No 54 of 1 June 1992 on the tax on the amounts obtained from the sale of assets of companies with state capital
ISSUER PARLIAMENT
Published in OFFICIAL GAZETTE NO. 119 of June 4, 1992



The Romanian Parliament adopts this law + Article 1 Companies that own and sell assets, as defined by the Law on the privatization of companies no. 58/1991 and Government Decision no. 634/1991 for the approval of the Methodological Norms on the sale of assets of companies with state capital, are obliged to pay the tax on the amounts obtained from their sale. + Article 2 The tax is calculated by applying the 20% rate on the amounts obtained from the sale of assets. If, by applying this tax rate, the price obtained by auction would be reduced below the accounting value updated according to the influence of the prices and the wear of the sold asset, the calculated tax is thus reduced value to remain unchanged. + Article 3 It shall be exempt from the payment of the tax provided by this law the sale of assets in the case when the price obtained by auction is below or at the accounting value updated according to the influence of prices and the wear of the sold assets. + Article 4 The tax on the amounts obtained from the sale of the assets is paid to the state budget, within 5 days from the date of collection of the asset price. + Article 5 The obligation of calculation and liability for the payment of the tax in the term of the tax return to the companies that held the assets sold. Non-payment of the amounts due to the state budget, at the deadline set according to 4, entails the payment of a 0.1% increase on the amount due, for each day of delay. + Article 6 For the transcript, respectively the intabulation, at the state notariat of the ownership of the assets sold by the companies with state capital is due to the stamp duty provided by law. + Article 7 The tax procedure that applies to the amounts obtained from the sale of assets of companies with state capital is that provided by Law no. 12/1991 on corporation tax, if this law does not provide otherwise. + Article 8 On the date of entry into force of this Law, the Government Decision no. 782/1991 on the tax on the amounts obtained from the sale of assets of companies with state capital. + Article 9 The provisions of this law apply from the date of publication in the Official Gazette of Romania. This law was adopted by the Senate at the meeting of May 27, 1992, in compliance with the provisions of art 74 paragraph (2) of the Romanian Constitution. SENATE PRESIDENT academician ALEXANDRU BIRLADEANU This law was adopted by the Chamber of Deputies at the meeting of May 27, 1992, in compliance with the provisions of 74 74 para. (2) of the Romanian Constitution. CHAMBER OF DEPUTIES PRESIDENT MARTIAN DAN -----------------