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Law No. 227 Of 4 December 1998

Original Language Title:  LEGE nr. 227 din 4 decembrie 1998

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LEGE no. 227 227 of 4 December 1998 on approval Government Ordinance no. 54/1997 to amend and supplement Law no. 15/1994 on the depreciation of capital immobilized in tangible and intangible assets
ISSUER PARLIAMENT
Published in OFFICIAL MONITOR no. 473 473 of 9 December 1998



The Romanian Parliament adopts this law + Article UNIC Approval Government Ordinance no. 54 54 of 28 August 1997 to amend and supplement Law no. 15/1994 on the depreciation of capital immobilized in tangible and intangible assets, issued pursuant to art. 1 lit. a) of Law no. 134/1997 for the empowerment of the Government to issue ordinances and published in the Official Gazette of Romania, Part I, no. 225 of 30 August 1997, with the following amendments and additions: 1. In Article I, point 3, Article 3 (2) (a) shall read as follows: "" a) has an entry value higher than the limit established by Government decision. This value can be updated annually, depending on the inflation index; " 2. in Article I, point 6, Article 4 shall be supplemented by letter d) with the following contents: "d) investments made on fixed assets, in order to improve the initial technical parameters, by increasing the entry value of the fixed means." 3. In Article I, point 7, Article 5 shall read as follows: "" Art. 5. -They are considered tangible assets, but they are not subject to depreciation: fixed assets under public ownership, lakes, puddles, ponds, which are not the result of an investment, as well as land, including forested ones. " 4. In Article I, point 13, Article 10 (b) shall read as follows: "b) purchase costs for fixed assets purchased for consideration;" 5. In Article I, paragraph 14, Article 10 (d) shall read as follows: " d) the present value, for fixed assets acquired free of charge, estimated at their inclusion in the asset on the basis of the report drawn up by the experts and with the approval of the management board of the economic agent, of the management officer the assets, in the case of non-profit legal entities, or the authorising officer of the budget, in the case of public institutions; " 6. In Article I, paragraph 20, the introductory part of Article 16 shall read as follows: "" Art. 16. -In justified situations, economic agents are exempted from the calculation of depreciation, with the opinion of the General Directorate of Public Finance and State Financial Control, for the following tangible assets: " 7. In Article I, paragraph 20, Article 16 (b) shall read as follows: "b) the fixed assets of the assets of economic agents listed in conservation for a duration of more than 30 days;" 8. In Article I, paragraph 25, Article 20 shall read as follows: "" Art. 20. -The powers of approval of the use of the linear or degressive depreciation regime shall return to the management board of the economic agent, respectively to the patrimony management officer, in the case of non-profit legal entities defined in art. 1 1 para. 3. The use of the accelerated depreciation regime is approved by the General Directorate of Public Finance and State Financial Control, on the proposal of the Board of Directors of the Economic Agent or of the Heritage Management Officer. " 9. In Article I, point 27, Article 22 (2) shall read as follows: "Public institutions have the obligation to highlight in accounting, in distinct accounts, the fixed assets and the amounts resulting from the dismantling and recovery by taking them out of service." 10. In Article I, paragraph 31, Article 25 shall read as follows: "" Art. 25. -When removing the fixed assets that have not been fully depreciated, the economic agents, as well as the non-profit legal entities will proceed in accordance with the provisions of art. 17 17 and 24 of the present law. " 11. Article I, point 32 shall read as follows: "" 32. Articles 27 and 28 shall be repealed. ' 12. In Article I (35), Article 30 (1) (a) and (b) shall read as follows: "" a) those of lit. c) and d), with a fine from 3,000,000 lei to 10,000,000 lei; b) those of lit. a), b) and e), with a fine from 5,000,000 lei to 15,000,000 lei. " 13. In Article I, paragraph 36, Article 32 shall read as follows: "" Art. 32. -Declassification and scrapping of material goods, other than fixed means, are a matter for the boards of directors of economic agents, respectively of the patrimony management officer. The declassification and scrapping of material goods, other than fixed assets, belonging to public institutions, are a matter for the authorising officer of the budget. " 14. Article II shall read as follows: "" Art. II. -Within 60 days from the date of entry into force of this ordinance, the Government will approve the amendment of the Methodological Norms for the application of Law no. 15/1994 ,, as amended and supplemented. " 15. Article III (1) shall read as follows: " The regularisation of the differences in the depreciation of non-use for the year 1997 will be made by inclusion in the operating costs at the close of the financial year. ' This law was adopted by the Chamber of Deputies at the meeting of September 3, 1998, in compliance with the provisions of 74 74 para. (2) of the Romanian Constitution. CHAMBER OF DEPUTIES PRESIDENT ION DIACONESCU This law was adopted by the Senate at the meeting of November 3, 1998, in compliance with the provisions of art 74 74 para. (2) of the Romanian Constitution. p. SENATE PRESIDENT, ULM SPINEANU ----------