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Romania Updates Tax Legislation in Continued Bid for 'Balance'

Throughout December 2012 and January 2013, there have been a number of amendments to tax legislation in Romania. Taxand Romania explores these updates and their impact on businesses with operations within the jurisdiction.

Amendments regarding the list of large taxpayers
These new provisions amend and complete the National Agency for Tax Adminstration's Order, regarding the adminstration for large taxpayers within the country. According to the new provisions, the deadline for preparation of the list of large taxpayers (and the nominal list of secondary offices of large taxpayers), has been brough forward from 20 December to 30 November each year. The order updates the list of large taxpayers that are valid from 1 January 2013, maintaining the suspension of the basic selection criteria previously provided at letter.

Suspension of registration of commercial transactions via electronic means
According to the new provisions, the registration of commercial transactions via electronic means is suspended during the period 1 January 2013 - 1 January 2014.

Approval of the model and content of certain tax forms
This order amends the model and content form 204 "annual income statement for partnerships without legal personality and fiscally transparent entities", and form 205 "informative statement regarding the withholding tax and gains/losses obtained, on income beneficiaries." The amendment also updates the related filing instructions for electronic submission of form 205. The new forms will be used for declaring the revenues derived starting 1 January 2012.

Discover more: Latest legislation updates in Romania


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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 enhance the appeal of Romania for investors, while maintaining revenue generation through new tax measures. Multinationals should keep abreast of all tax developments to ensure compliance.

Taxand's Take Author

Angela Rosca