The main provisions in the area of tax legislation are: A. CORPORATE INCOME TAX • An additional mechanism to stimulate investment in research and development activities is introduced in the form of a tax credit amounting to 10% of the eligible expenses. • For clarity, the following items are added to the category...
Emergency Ordinance No. 89/2025 introduces the following changes: Tax Law Amendments • The minimum turnover tax (applicable to companies with a turnover exceeding 50 million euros per year) will be reduced from 1% to 0.5% in 2026 and will be eliminated starting with 2027. • The applicability of the additional tax paid by...
The main changes are: FISCAL PROCEDURE CODE ➢ New criteria are introduced for declaring taxpayers as inactive: • the taxpayer does not have a bank account opened with a bank in Romania • the taxpayer has not filed the annual financial statements within 5 months from the statutory filing deadline If the taxpayer is not...
On 29.08.2025 was published in the Official Gazette the Ordinance 22/2025 that brings important changes in the field of VAT, namely the registration treshold for VAT purposes and the registration procedure: Thus, starting with September 1, 2025, the VAT treshold will be increased to 395,000 lei. The registration procedure is modified in...
It was published the Order no. 1194/2025 issued by the Ministry of Finance, in the Official Gazette no. 730 of August 5, 2025. The Order regulates the accounting reporting obligations as of June 30, 2025, for economic operators. 1. Who is required to report The following entities, who recorded a net turnover...
Starting August 1, 2025, Romania’s standard VAT rate will increase from 19% to 21%, under Law No. 141/2025, published in the Official Gazette on July 25, 2025. Additionally, the 5% and 9% reduced VAT rates will be merged into a unified 11% reduced rate, applicable to specific categories of goods...
Changes of taxes have been announced by the Government on 02.07.2025: 1. VAT – starting with August 1, 2025: - The reduced rate of 5% is eliminated - The VAT rates are increased, as follows: • The reduced VAT rate will be increased to 11% and will apply to the delivery of medicines, food,...
The European Commission has introduced a comprehensive package of proposals aimed at simplifying EU regulations, enhancing competitiveness, and facilitating sustainable investments. Promising over €6 billion in administrative relief, this initiative particularly benefits small and medium-sized enterprises (SMEs) while focusing on larger companies with significant environmental impacts. The European Commission has officially...
On 31.12.2024, GEO 156/2024 was published regarding some fiscal-budgetary measures. The main changes in the tax field, with application from 01.01.2025, are: I. Microenterprises • The annual income ceiling for micro-enterprises is reduced to EUR 250,000 in 2025 and EUR 100,000 starting on 01.01.2026 • The restriction on consulting and management activities is...
E-Invoice: In the B2G commercial relationship, the invoices will contain the corresponding CPV codes provided in the reference nomenclature in the field of public procurement In the B2C commercial relationship, invoices will be sent through the E-Invoice system. If the buyer does not provide the CNP, the issuer will complete the dedicated...
