The tax authorities announces operation ICEBERG, which targets the large companies, particularly focused on the ways profits are shifted out from Romanian subsidiaries. This could be analyzed in the context where the National Committee of Prognoses, a highly politically subordinated institution, have signed an agreement with the National Agency for Tax...
1. Starting on 01.01.2019, according to GD 937/2018, the minimum gross wage has increased from 1,900 RON to 2,080 RON for a full time employment. For the personnel emplyed in positions that require a level of higher education, with a work experience of at least one year in the field, the...
The Order approves the template, content and instructions for filling in Form 205 “Statement on withholding tax, gambling income and profit/loss from investment activities, per income beneficiaries” and Form 207 “Statement on withholding tax/exempt income, per non-resident income beneficiaries”. The statements 205 and 207 are used to declare the revenues for which withholding tax...
The most relevant provisions are: The moment of VAT adjustment in case of debtor's bankruptcy was changed. The adjustment of the VAT will be allowed from the date of bankruptcy (and not from the date of bankruptcy completion). The income from virtual currency (Crypto-currencies) transfer is listed as income from other sources. The Law...
The Fiscal code requires taxpayers to compute and communicate the pro-rata percentage and its computation method until January 25th. This percentage has temporary use. There is no standard statement, so the pro-rata notification for the current year can take the form of a letter. According to the Fiscal Code, the temporary pro-rata...
Fiscal limit EUR Exchange rate LEI Fitting in micro-enterprises 1.000.000 4.6639 lei / euro 4.663.900 VAT registration 88.500 3.3817 lei / euro 300.000 VAT on receipt - - 2.250.000 Intra-Community acquisitions of non-taxable goods in Romania 10.000 3.3817 lei / euro 34.000 VAT tax period 100.000 4.6581 lei / euro 465.810 Income determination in real system 100.000 4.6535 lei / euro 465.350 Distance sales 35.000 3.3817 lei / euro 118.000 CAS and CASS payment for extra-salary incomes - - 24.960 The 5% vat rate applied for...
The new legislation modifies the Law 70/2015 regarding the strengthening of the financial compliance related to cash transactions as follows: the economic entities are obliged to keep the legal supporting documents for the payments made using remote control payment methods (e.g. e-banking). Failure to comply is sanctioned with a fine...
The Order approves new model of Form 101 "Statement of corporate income tax", with few changes vs. the previous form.
The document provides the introduction of fiscal measures with a special impact on banking, pension, energy, construction and gambling, as follows: Individuals with an individual employment contract working in the field of construction will benefit of exemption/reduction from/of the payment of income tax and social contributions until 31.12.2028 under certain conditions...
The government resolution no. 937/2018 approves the increase of the gross minimum salary starting with 1 January 2019 up to RON 2,080 for employees without university education and up to RON 2,350 for university graduates with at least 1 year of working history employed on positions for which university education is required.
