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Fiscal code amendments

Romania

Government emergency ordinance no. 50/2015, published in the Official Gazette no. 817 of 3 November 2015, highlights amendments brought to laws no. 227/2015 and 207/2015 regarding fiscal codes. Taxand Romania provides an overview.

Several fiscal code amendments were announced, including:

  • The tax rate applicable for dividends distributed to Romanian individuals and legal entities, as well as for dividends derived by nonresidents from Romania, is reduced from 16% to 5%. The new tax rate is applicable to dividend income distributed
  • The ordinance increases the threshold applicable to Romanian legal entities in order to qualify as „micro-enterprises” from EUR 65.000 to EUR 100.000 for income registered in the previous fiscal year
  • The applicability of the reduced VAT rate of 9% will be extended for the supply of potable water and for the water used in irrigation and agriculture

The provisions of the emergency ordinance will enter into force on 1 January 2016.

Discover more: Fiscal code amendments


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

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Taxand's Take

Taxpayers in Romania should take note of this update to ensure they remain compliant and don't miss out on any opportunities presented by the changes. 

Taxand's Take Author

Angela Rosca
Romania

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