Analysis
Personal income taxation
Standard rate: 16% Taxpayers Romanian tax residents are liable to Romanian tax on their worldwide income, whereas non-Romanian tax residents are liable to Romanian tax on their Romanian sour...
Direct taxes
Corporate taxation Standard rate: 16% Corporate taxpayers The following entities are subject to corporate tax in Romania: Romanian companies (defined as “any legal entity that has been estab...
Fiscal procedures / administration
Rulings: Non-binding rulings, advance tax rulings (ATRs) and advance pricing agreements (APAs) are available. Statute of limitations The statute of limitations period is 5 years, starting fr...
Forms of Business Organization
Individuals and legal entities may freely enter into partnerships and set up companies to develop business activities. According to the Company Law (Law 31/1990, as republished and subsequen...
General Information about Romania
Romania is a country of considerable natural beauty, with numerous attractions for the visitor. It has seen significant economic growth in the last two decades, spurred on by EU accession in...
Press Review - August 2, 2013
CSAT Meets Friday For Talks On CFR Marfa Sale Contract Romania’s President Traian Basescu has convened a special meeting of the country’s high defense body CSAT and the issue on the table is...
Press Review - August 1, 2013
Mediation Becomes Mandatory Before Trial Starting August 1 Attending mediation meetings before trial has become mandatory in Romania starting August 1. Under the law regulation the mediation...
Press Review - July 31, 2013
Ovidius University Provost Detained For Bribe Taking Tiberius-Danut Epure, the provost of Ovidius University in Constanta, has been detained for corruption after he allegedly received bribes...
PwC: Lowering VAT On Bread To Reduce Tax Evasion If Complemented By Other Measures
Lowering the value added tax on bread from 24% from 9% is an important step in reducing tax evasion in the bread industry and the measure should also be applied to meat, milk, sugar and vege...