TAXATION
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Taxation
Summary of main taxes Standard Corporate Tax: fixed rate of 16% Tax for nightclubs and gambling operations: 5% of total revenue, or 16% of profit, whichever is higher Tax on micro-enterprise...
Indirect taxes
Value Added Tax Romanian VAT legislation is generally in line with the principles of EC VAT Directive 2006/112 (the recast of the Sixth VAT Directive). Romanian VAT legislation uses three di...
Local taxes
Real estate taxes Tax on buildings for individuals: 0.1% of the taxable value of the building (increased by 5% for each 50 sqm for any surface area in excess of 150 sqm). Those who own more...
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...
GDF Suez: Romania’s Planned Tax On Natural Monopolies Should Be Passed To Consumers
Romania’s planned tax on natural monopolies will reduce the financing capacity of companies and hinder new investments, GDF Suez Energy Romania said Tuesday.
Voinea: Romania Considers Extra Tax For Electricity, Gas Producers
Romanian electricity and natural gas producers may have to pay an extraordinary tax on the supplementary revenues obtained following price deregulations on the local market, an official of t...
Agriculture Minister Says Tax On Farming Machines Will Be Scrapped
Romanian Agriculture Minister Stelian Fuia on Monday said the tax on registered farming machines will be eliminated through the amendments that will be brought to the Tax Code.