So, according to the provisions of the Ordinance, in case of termination, during the fiscal year, of the contracts between the parties, for which the determination of the gross income is made based on rent from the contract and in which the rent is the equivalent in lei of an amount in foreign currency, prepayments set according to paragraph (1) shall be recalculated by the competent tax authority, at the request of the taxpayer, based on documentary evidence.
The establishment of the annual income shall be made based on the exchange rate of the currency market, announced by the National Bank of Romania, from the day before the imposing decision is issued, the tax being final.
Also, the Ordinance further states that, for contracts in which the rent represents the RON equivalent of an amount in foreign currency, in the event of termination, during the fiscal year of the contracts, the competent tax authority at the request of the taxpayer, based on supporting documents, recalculates the prepayments established under the provisions above – mentioned, starting from 1 June 2015.
In addition, it is also mentioned that, for registration with the land registry offices of the acquired rights based on the documents authenticated by notaries public or heir certificates or, where appropriate, judicial decisions and other documents in other cases, before the June 1, 2015 and not registered until that date, the registrars are not required to verify the payment of the tax on income from transfer of property from the personal property.
Setting the framework for recalculation of the income from rents, by this Ordinance is required, due to the fact that the present regulations does not contain rules on tax recalculation of advance payments for rents in the event of termination of the contracts involving foreign currency, as similar to those applicable for the recalculation of anticipated payments in case of cancellation of contracts in which the rent is due in lei.