Tax Alert Act Amending and Complementing the Excise Duties and Tax Warehouses Act 2010
ACT AMENDING AND COMPLEMENTING THE EXCISE DUTIES AND TAX WAREHOUSES ACT
(IN FORCE AS OF 01 JANUARY 2010)
In State Gazette No. 44/12.06.2009 was promulgated the Act amending and complementing the Excise Duties and Tax Warehouses Act (“Excise Act”) whose most important provisions enter into force on 01.01.2010.
The main amendment introduced by the Act is the abolishment of the excise duty on motor cars as of 01 January 2010. Until 31 October 2009 the Council of Ministers is obliged to introduce or propose amendments to the respective legal acts aiming at laying down the terms and conditions for compensating the decrease in revenues due to the excise duty abolishment.
Another important amendment, which will also enter into force as of 01 January 2010, refers to specifying the requirement for differentiation of excisable goods stored in tax warehouses. It has been clarified that when the specifics of the goods hinder their physical differentiation, the goods would be differentiated only in the material bookkeeping.