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12.04.2024

Main legislative changes of March 2024

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1. Extension of the grace period for failure to submit invoices via RO e-Factura system 2. Clarifications regarding the definition of related enterprises 3. Minimum tax or additional tax for operators in the energy sector 4. Consumer Price Index 5. Update of Form 107 "Informative Statement Regarding Beneficiaries of goods/ services/ sponsorships/ patronages” 6. Adjustment of VAT taxable base 7. Tax registration for liberal professions

01.03.2024

Immigration Services

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Our experts are prepared to help you in all kind of matters related to Global Mobility.

14.02.2024

Main legislative changes of January 2024

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1. Amendments to Form 100 for the declaration of tax on income from the disposal of the use of goods 2. Publication of the Order for determining the assets that are included in indicators I and A 3. Update of declaration 212 "Declaration on income tax and social contributions due by individuals" 4. Social Security Agreement between Romania and the United States of America 5. Double Tax Treaty between Romania and the Principality of Liechtenstein 6. The global minimum tax has been introduced into national legislation

15.01.2024

In 2024, RO e-Transport is mandatory for all goods

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Starting from January 1st, 2024, among the changes brought by the Government Emergency Ordinance no. 115 / 2023, the provisions of Government Emergency Ordinance 41/2022 regarding certain aspects of the implementation of the RO e-Transport system have been modified.

15.01.2024

The global minimum tax has been introduced into national legislation

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The Law applies to entities headquartered in Romania, that are members of a multinational or national group with an annual revenue of at least 750,000,000 EUR recorded in the consolidated financial statements of the ultimate parent company, in at least 2 of the 4 financial years immediately preceding the reference financial year. There are also certain expressly provided exclusions.

11.01.2024

Main legislative changes of December 2023

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1. Changes of the Tax Code and other regulations by the Government Emergency Ordinance no. 115/2023 2. Updated methodological norms for the application of the Tax Code regarding VAT and income from the transfer of real estate from personal assets 3. Lists of large and medium taxpayers, aplicable from 1st of January 2024 4. VAT updates – the new register for the purchase of housing with a reduced VAT rate and obtaining a certificate for deferral of payment at customs of VAT 5. Individual taxation updates - exclusion of IT activities from self-employed activities for which the net income can be determined based on lump sums, new tax returns and the average gross salary for the year 2024 6. Clarifications regarding legal entities operating in the oil and gas sectors and owing specific turnover tax 7. Romania has completed the synthesized text for 55 double taxation treaties with the changes brought by the multilateral convention 8. The procedure for the expansion of the mechanism for offsetting tax claims has been published 9. Several procedures and statements regarding the reporting obligations of platform operators have been published

21.12.2023

Tax changes introduced by GEO 115/2023

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1. Corporate tax 2. Income tax on micro-enterprises 3. Taxation of individuals 4. Value added tax (VAT) 5. Other changes

05.12.2023

Main legislative changes of November 2023

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1. Starting with the revenues for the month of November 2023, minimum wages in the construction and agri-food industries are increasing 2. Amendment of cash collection and payment ceilings according to Law No. 296 of 2023 and Emergency Ordinance No. 98 of 2023 3. Intrastat value thresholds for 2024 remain the same as in 2023 4. Amendments to the Convention between Romania and Luxembourg for the avoidance of double taxation 5. Changes to the 100 declaration regarding obligations in the field of gambling 6. Expansion of the list of individuals eligible for maternity risk leave 7. Approval of the format of the preliminary certificate for cross-border mergers/transformation/splitting

17.11.2023

Modification of cash receipts and payments limits according to Law no. 296 of 2023 and GEO no.98 of 2023

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Starting from November 11th, certain provisions regarding cash receipts and payments have been amended, in accordance with Law No. 296 of 2023, as amended by Emergency Government Ordinance No. 98/2023.

09.11.2023

Main legislative changes of October 2023

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1. The chart of accounts will have new accounts and some changes to existing accounts 2. Gambling entities will be subject to tougher taxation and will be required to operate through a permanent establishment in Romania 3. The Romanian Government establishes amendments to the contraventions 4. The Romanian Government approves a series of documents that may be requested in order to verify the obligation of economic operators to use electronic fiscal cash registers 5. The value of cultural vouchers is increased from 1 October 2023

03.11.2023

Crowe Analysis: One in six employees in Romania will have higher incomes, on paper, due to the new fiscal changes

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