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...
The main aspects related to RO e-VAT are: RO e-VAT is implemented starting with 01.08.2024 for transactions made by VAT payers starting with 01.07.2024. RO e-VAT statement will be sent for each tax period, to persons which are registered for VAT purposes, through SPV, no later than 5th of the month following...
Interest, penalties and all accessories related to the main budgetary obligations owed by legal entity debtors, overdue on August 31, 2024 inclusive, are canceled if the following conditions are cumulatively met: The outstanding obligations on August 31, 2024 will be paid by the date of submission of the application, no...
In response to the pressing need for stringent climate action, the European Union (EU) has elevated its climate targets, paving the way for introducing the Carbon Border Adjustment Mechanism (CBAM). This mechanism is designed to counteract 'carbon leakage,' a phenomenon where companies relocate their production to countries with laxer climate...
New changes to the fiscal legislative framework were published on 15.12.2023, as follows: Corporation Tax New rules for deducting the amounts paid to employees for early education, within the limit of 1,500 lei per month/child The deductibility of the expenses with the employees accommodation is carried out at the level of...
In the fast-paced realm of modern business, innovation continues to reshape traditional practices. One such transformation is the widespread adoption of E-invoicing, a digital approach to invoicing that streamlines processes, reduces errors, and enhances efficiency. With a decade of expertise in copywriting, let's delve into the intricacies of E-invoicing, exploring...
The following changes are still valid: Advances for cash settlement are limited to RON 1,000/day per person. Ceiling at the cash register of a maximum of RON 50,000 in the house register at each work point or social/professional headquarters. Cash in hand transactions between entities and individuals representing payments/receipts of...
• Starting with January 1, 2024, companies have the obligation to issue and send B2B and B2G invoices in electronic E-Invoice format. • Starting with July 1, 2024, only invoices issued and sent in the electronic E-Invoice format are recognized as such in accordance with the provisions of the Fiscal Code. •...
Changes in IT, constructions, agriculture and food industry • The income tax exemption related to salary income, applicable for employees in the IT field, will be limited to a level of RON 10,000 from the gross salary related revenues, in compliance with the eligibility conditions. This facility will be available...
