At the end of last year, Romania introduced numerous tax amendments that entered into force on 1 January 2023. The following is a summary of the most important amendments. Government Ordinance 16/2022 approved through Law 370/2022 Government Ordinance 16/2022, published… Read moreRomania amends the tax law in 2023
On 26 February 2021, Romania published Emergency Ordinance no. 13/2021 for the amendment and completion of the Tax Code and of the Accounting Law (GEO 13/2021) in the Official Gazette. The main amendments brought about by GEO 13/2021 are presented… Read moreRomanian government amends Tax Code and Accounting Law
Debt restructuring measures and the possibility to cancel accessory tax liabilities are still available to Romanian taxpayers, but in order to be eligible taxpayers must notify tax authority by 31 March 2021 and comply with all obligations. The debt restructuring… Read moreTax debt restructuring and cancellation of accessory tax liabilities still available
On 21 December 2020, Law no. 296/2020 for the amendment and completion of the Tax Code was published in the Official Gazette, which includes the following main measures: Definitions and general provisions The definitions of “effective place of management”, “resident”,… Read moreRomania amends Tax Code for 2021
On 18 December 2020, the Romanian President promulgated an amendment on the law on fiscal procedures and in the Official Gazette it was published a High Court of Cassation and Justice ruling on the five-year statute of limitations for corporate… Read moreRomania amends Fiscal Procedure Code and its high court rules on statute of limitation
Romania has introduced two amendments to its Fiscal Code with the passage of Law no. 239/2020, which was published on 6 November 2020 and entered into force on 9 November 2020, and Law no. 248/2020, which was published on 13… Read moreRomania brings new amendments to the Fiscal Code
On 12 November, the ECJ issued its decision in case C-734/19 ITH Comercial Timisoara SRL (ITH) involving the input VAT recovery for goods and services no longer used by the taxpayer (i.e. pertaining to abandoned real-estate projects). The Court ruled… Read moreLandmark ECJ ruling on a Romanian case involving deduction of VAT on abandoned investments
On 26 October 2020, Romania put into place Government Emergency Ordinance no. 181/2020 (“GEO 181/2020”) approving additional tax measures and deadlines extensions to support business during the recovery period. Specifically, the new measures include the following: Extension of the deadline… Read moreRomanian government introduces new measures in response to COVID-19
On 4 September 2020, Romania enacted Government Emergency Ordinance no. 153/2020 (GEO 153/2020), which introduces progressive bonifications for companies improving their equity position. GEO 153/2020 also includes new provisions regarding the calculation of annual corporate income tax (CIT) vis-à-vis government-granted… Read moreRomania passes new tax incentives to bolster business
The online visual identification procedure, an essential part of Ministry of Finance Order no. 2012/2020 (officially passed on 11 June) that allows for tax authorities and taxpayers to communicate by electronic means, is scheduled to enter into force on 11… Read moreRomanian Tax Authority takes a further step towards digitalisation
