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Article 303 of Legea nr. 227/2015 privind Codul fiscal (Law No 227/2015 establishing the Tax Code) of 8 September 2015 (Monitorul Oficial al României, Part I, No 688 of 10 September 2015) (‘the Tax Code’) provides: ‘(1) If the tax on purchases made by a taxable person registered for VAT purposes, in accordance with Article 316, which is deductible in a tax period exceeds the tax levied on taxable transactions, an excess shall arise in the reporting period, referred to as a negative tax amount. (2) After determining the amount of tax payable or the negative tax amount relating to the transactions carried out in the course of the reporting period, taxable persons shall make the adjustments provided for in this article using the tax return referred to in Article 323. (3) A cumulative negative tax amount shall be determined by adding together the negative tax amount for the reporting period, the balance of the negative tax amount carried forward from the return for the preceding tax period, where a refund has not been requested, and the negative balance of VAT as established by the tax inspection authorities in a decision communicated prior to the submission of the tax return. (4) A cumulative amount of tax due shall be determined in the reporting period by adding together the tax due in the reporting period and any portion not paid to the Treasury – prior to the submission of the tax return referred to in Article 323 – of the balance of tax due from the preceding tax period, and any portion not paid to the Treasury – prior to the submission of the tax return – of the balance of VAT due established by the tax inspection bodies in a decision communicated prior to the submission of the return. By way of exception: (a) in the first tax return submitted to the tax authority after the date of approval of a payment facility, the cumulative amount of tax due in respect of which the payment facility has been approved shall not be carried forward from the return for the preceding tax period; (b) in the first tax return submitted to the tax authority after the date of registration of the tax authority in the body of creditors referred to in Law No 85/2014, the cumulative amount of tax due in respect of which the authority is registered in the body of creditors in accordance with the provisions of Law No 85/2014 shall not be carried forward from the return for the preceding tax period. (5) By way of derogation from the provisions of paragraphs 3 and 4, any negative VAT balance established by the tax inspection authorities and any portion that has not been paid to the Treasury, by the date of submission of the tax return of the balance of the VAT due established by the tax inspection bodies in a decision the enforcement of which has been stayed by a court in accordance with the law, shall not be added to the negative amount or to the cumulative amount of tax due, depending on the case, relating to the period(s) for which enforcement of the decision is suspended. Such amounts shall be imputed to the return for the tax period in which the stay of enforcement of the decision is lifted, so as to determine the cumulative negative tax amount or, as the case may be, the cumulative amount of tax due. (6) Using the tax return referred in in Article 323, taxable persons are required to determine the difference between the amounts referred to in paragraphs 3 and 4, which represent the tax adjustments, and to determine the balance of tax due or the balance of the negative tax amount. If the cumulative amount of tax due exceeds the cumulative negative tax amount, a balance of tax due shall arise in the reporting period. If the cumulative negative tax amount exceeds the cumulative amount of tax due, a balance of the negative tax amount shall arise in the reporting period. …’