The main amendments to the Fiscal Code which came into force on 1 January 2017
The facility of tax exemption on reinvested profits was extended indefinitely.
Expenses for organizing and conducting technical education were added as deductible expenses.
TVA rate is reduced from 20% to 19%.
The obligation to register in the Register of Intra-community operators it was repealed.
Minimum capital threshold for taxation of micro-enterprises was reduced from 25,000 euro to 45,000 lei (i.e. 10.000 eur).
Revenues from intellectual property rights, dividend revenues are included in the calculation base for CASS, even if the beneficiary receives income from wages, pension or other incomes subject to CASS. The calculation base is capped at five average gross earnings.
Construction tax (pole tax) was removed, which until 1 January 2017 It has been calculated by applying a rate of 1% on the construction value.
The companies performing only activities in the field of tourism, hotels, restaurants, bars will pay a flat tax depending on certain variables such as rank of locality, seasonality. The companies which will carry out activities other than those listed above will pay corporate tax under the Fiscal Code.
