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Articles - tax

No more tax controls for large companies in Romania

Romania’s tax authority ANAF could introduce voluntary monitoring for companies starting mid-2016, according to Ionut Simion, country managing partner PwC Romania.

Romania to reduce tax on dividends starting January 1 next year

The ruling coalition has decided to apply several measures of the new Tax Code starting January 1, 2016, although they were initially planned to be implemented later, said Prime Minister Victor Ponta.

The new Romanian Fiscal Code published in the Official Gazette

The new Fiscal Code published in the Official Gazette includes the reduction of the general quota of VAT from 24% to 20% starting with next year, the application of a special quota of 5% for books, textbooks, newspapers, magazines, sporting events, cultural events, as well as a series of tax increases, such as the tax on houses owned by natural persons but used for commercial purposes

Tax on unattended buildings and plots could go up six fold in Romania

The tax on unattended buildings and land plots could be increased by over 500% according to a new amendment to Fiscal Code.

Taxes on real estate properties owned by individuals go up in Romania

Taxes on real estate properties will change starting 2016. Individuals will have to pay higher taxes to local authorities for their properties, according to the new Fiscal Code.

Parties reach agreement on Fiscal Code changes

Following this week’s debates over the Fiscal Code, representatives of the main political parties in the Romanian Parliament have reached an agreement over lowering the general VAT level to 20 percent starting January 2016 and 19 percent starting the following year.

EY: Romanian entrepreneurs prefer simpler tax rules to tax cuts

About 60% of the Romanian entrepreneurs consider that simplifying tax rules and regulations for the calculation of tax liabilities would have a greater impact on improving the fiscal environment in Romania than a cut in taxes.

Fiscal Code to be re-evaluated in extraordinary session in August

Acting president of PSD, Liviu Dragnea, said that the coalition decided to convene an extraordinary session of Parliament to review the Fiscal Code between 24 -26 August, according to Mediafax.

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