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Recent tax updates to Romanian legislation

18 Sep 2013

September 2013 has seen further tax amendments to Romanian legislation. Taxand Romania takes a look at what these involve and how they affect taxpayers.

Patrimony and income declaration for individuals subject to personal income tax audits

The order provides the model and content of the patrimony and income declaration to be completed and filed, upon the request of the tax authorities, by individuals subject to an audit of their personal income tax position. The order provides the patrimony and income elements which should be declared by the individual, irrespective of where such elements are located or derived from, within national territory or abroad. Personal expenses and expenses in connection to dependents should be declared as well, for each acquisition of goods/services exceeding RON 10,000 threshold.

Amendments brought to the Informative statement regarding local supplies and acquisitions for VAT purposes

According to the order, fiscal receipts fulfilling the conditions of a simplified invoice shall not be reported, until 31 December 2014, in the Informative statement regarding local supplies and acquisitions (ie form 394). The new provisions are applicable starting with national operations carried out during August 2013.

Amendments regarding the classification of activities related to creation of computer programmes

The order broadens the category of employees that benefit from tax exemption for salary income derived from creation of computer programmes, by adding eight new specialisations to the list of accredited high education institutions. In addition, the order updates the list of activity codes for economic operators whose employees can benefit from income tax exemptions. According to the new provisions, the income tax exemption is applicable on a monthly basis, only for salary income derived based on individual employment agreements, irrespective of the employment date and without being conditioned by the individual’s contribution for the achievement of the minimum annual income threshold.

Discover more: Recent tax updates to Romanian legislation

Your Taxand contact for further queries is:
Angela Rosca
T. +40 21 316 06 45


Taxand's Take

The Romanian Government continues to update and amend its tax legislation in order to drive revenue generation, while providing clarification to taxpayers. Multinationals should keep abreast of all tax developments to ensure compliance.

Taxand's Take Author

Angela Rosca