In accordance with the Memorandum of Foundation of the Project, the following changes to the Fiscal Code and the Fiscal Procedure Code are proposed:

1. Regarding the tax on dividends: it is proposed to bring forward the measure to reduce the tax rate from 16% to 5%, applicable to the distribution of dividends between Romanian legal entities.
2. With regard to the tax on the income of micro-enterprises: it is proposed to increase the ceiling for inclusion in this taxation system from 65,000 euros to 100,000 euros. At the same time, in order to stimulate the creation of new jobs and for the fair settlement of the tax burden between micro-enterprises, with and without employees, a differentiated system of tax rates is introduced, between 1% - 3%, as follows: 1% for micro-enterprises who have more than 2 employees including; 2% for micro-enterprises with 1 employee; 3% for micro-enterprises that have no employees.
3. With regard to the mandatory social contributions: it is proposed to exempt from the payment of the social health insurance contribution of persons who have sickness and maternity insurance in the territory of a state with which Romania applies a bilateral social security agreement with provisions for sickness insurance - maternity.
4. Regarding the value added tax, it is proposed to reduce the VAT rate to 9% starting from January 1, 2016 for the delivery of drinking water and water for irrigation in agriculture.
5. With regard to local taxes and fees, it is proposed that, in the case of the registration or registration during the year of a means of transport, the owner has the obligation to submit a declaration to the fiscal body in whose territorial jurisdiction the domicile, headquarters or point of work, within 30 days from the date of acquisition.

Regarding the Fiscal Procedure Code, the project concerns, among other things, the establishment of a procedural rule that will clarify the way of granting the 75% reduction of the late payment penalty in the case of taxpayers who benefit from deferred payment; the procedure for verifying the personal fiscal situation was harmonized with the provisions of Directive 95/46/EC of the European Parliament and of the Council regarding the protection of natural persons with regard to the processing of personal data; the provisions relating to the conditions for maintaining the validity of a payment deferral have been completed, with the situation in which, during a deferral, the taxpayer who benefits from deferral merges with another taxpayer who does not benefit from deferral.