Announcement on the implementation of procedures for electronic submission of the financial statements for 2016 by Non-profit Organizations.
Dear legal representatives of Non-profit Organizations!
Pursuant to the Law No. 8438, dated 28/12/1998 “On income tax”, as amended, DCM No. 922, dated 29/12/2014 “On mandatory declaration of the tax declarations and other tax documents, only via the electronic form”, as well as to the requirements of the Law No. 9228, dated 29/04/2004 “On accounting and financial statements”, as amended, the General Directorate of Taxes would like to bring to the attention of all Non-profit Organizations the following issues:
Any Non-profit Organization (association, foundation, etc) that exercises an activity of a religious, humanitarian, charity, scientific or educative character, etc., shall be obliged to submit by March 31st, 2017 the financial statements for the fiscal year 2016.
Whereas, Non-profit Organizations that have tax responsibility of income tax, shall send the Income Tax Declaration form as per the template approved by the Instruction of the Minister of Finance No. 5, dated 30/01/2006 “On income tax”, as amended, as well as the annual balance of the activity for the fiscal year 2016.
We would like to clarify that the submission of these financial statements within such deadline is a legal obligation pursuant to Article 18 of the Law No. 8438, dated 28/12/1998 “On income tax”, as amended, not only for the Non-profit Organizations that have a tax responsibility of income tax, but also for any Non-profit Organization which has been exempted from the income tax.
The financial statements submitted in pdf version (scanned) shall be mandatorily signed and sealed by the legal representative of the organization.
Thank you!