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Amendments and completions of certain normative acts and other fiscal-budgetary measures

Romania

March 2014 saw a number of tax amends to Romanian legislation including certain normative acts and other fiscal-budgetary measures. Taxand Romania focuses on the ratification of Law no. 13/2014 and the issuance of Emergency Ordinance no. 13/2014. 

Law no. 13/2014 
This Law ratifies the Convention regarding the mutual administrative assistance in the tax matters adopted by OECD countries in Strasbourg on 25 January 1988 and the ratification of the Protocol amending the Convention, adopted in Paris on 27 May 2010, signed by the Romanian party on 15 October 2012. The convention provides a centralised cooperation framework for the signatory states by regulating the exchange of information between states and by tax assistance in the recovery of taxes and tax audit activities.

Government Emergency Ordinance no. 13/2014 
This emergency ordinance amends the Annex to the Emergency Government Ordinance no. 7/2013 setting the income tax on the additional income obtained following the deregulation of natural gas prices.

Discover more: Amendments and completions of certain normative acts and other fiscal-budgetary measures


Your Taxand contact for further queries is:
Angela Rosca
T. +40 21 316 06 45
E. angela.rosca@taxhouse.ro

Also published in Thomson Reuters' Taxnet Pro, 25 April 2014

Taxand's Take

Multinationals should review all recent updates to Romanian tax legistation to ensure they are aware of any impact these amends could have on their operations.

Taxand's Take Author

Angela Rosca
Romania

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