Law No. 249 Of 28 December 1998 Approving Ordinance No. 40/1998 On The Amendment Of The Government Ordinance No. 70/1994 Income Tax

Original Language Title:  LEGE nr. 249 din 28 decembrie 1998 privind aprobarea Ordonanţei Guvernului nr. 40/1998 pentru modificarea şi completarea Ordonanţei Guvernului nr. 70/1994 privind impozitul pe profit

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Law No. 249 of 28 December 1998 approving Ordinance No. 40/1998 on the amendment of the Government Ordinance No. 70/1994 income tax published in PARLIAMENT ISSUING the OFFICIAL GAZETTE nr. 511 of 30 December 1998 Parliament adopts this law.

Article 1 shall be subject to approval of the Government Ordinance No. 40 of 30 January 1998 amending and supplementing the Ordinance to the Government. 70/1994 income tax issued pursuant to art. and (b). the Act No.) 221/1997 on empowering the Government to issue decrees and published in the Official Gazette of Romania, part I, no. 43 of 30 January 1998, with the following amendments and supplements: 1. In article I, paragraph 3 shall be inserted after point 3 ^ 1 with the following content: "3 ^ 1. In article 1, after paragraph 3, insert the (4) with the following contents: (4) exchange rate Differences on the amount of foreign currency held by economic agents is not reflected in their income and expenditures. "

2. In article I, section 5, article 4 (1 ^ 2 and 1 ^ 3) shall read as follows: "(1 ^ 2). Expenditure incurred for the realisation of assets of real estate being delivered and sold under a contract of sale with payment in instalments, as well as in the case of contracts of lease are deductible at the time of their.
(1 ^ 3) The computation of taxable profit shall be deducted: (a) for the establishment of contributions) funds with special destination, according to the law;

b) respectively revenue expenditure resulting from debt cancellation or from the proceeds of receivables, where appropriate, as a result of the transfer of shares or of shares of the State property Fund, in accordance with the Convention;

c) delegating spending, detachment and displacement in the country, and abroad, established by documentary evidence;

(d) subsistence expenses);

(e) insurance expenses) relating to tangible fixed assets and current assets and expenses for personal insurance against accidents at work;

f) the amounts of the contributions of the cooperative consumer organizations and credit associations are affiliated under the provisions of law No. 109/1996 concerning the Organization and functioning of cooperative consumer and credit cooperative, the cooperative craft organizations, contributions as well as contributions from non-governmental organizations, within the limits of the law. "

3. In article I, introductory part of point 6 of the letter f) and paragraph 3 of article 4 shall read as follows: "6. Article 4 (3) shall be supplemented as follows: f) expenses relating to goods nature of stocks found lack of discharge or degraded and irresponsible, the value added tax in respect of such charges, value-added tax in respect of goods, other than those of own production granted to employees in the form of benefits in kind, as well as the value added tax in respect of the expenditure nedeductibila the protocol that exceeds quota prescribed by law; "

4. In article I, section 6, subparagraphs g)-j), m) and s) of paragraph 3 of article 4 is repealed.
5. In article I, section 8 shall read as follows: "8. In article 7, paragraph 1 (c)), (2) and (4) shall be repealed."

Article 2 the provisions of this law shall enter into force with effect from 1 January 1999.
This law was adopted by the Senate at its meeting on 16 November 1998, in compliance with the provisions of art. 74 para. (2) of the Constitution of Romania.
p. Senate CHAIRMAN MIRCEA IONESCU-QUINTUS this law was adopted by the Chamber of deputies at its meeting on 25 November 1998, in compliance with the provisions of art. 74 para. (2) of the Constitution of Romania.
p. CHAMBER of DEPUTIES PRESIDENT, ANDREI CHILIMAN — — — — — — — — — — — — — —