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September 2015 tax changes

Romania

During September 2015, amendments were made to Romanian tax regulations. Taxand Romania provides an update on the key changes.

Law no. 227/20155 published in the Official Gazette no. 688 of 10 September 2015.

Starting with 1 January 2016, Law no. 227/2015 regarding the Fiscal Code will replace Law no. 571/2003. The new Fiscal Code brings a new structure, with the following distinct titles and chapters:

  • General provisions
  • Corporate income tax
  • Tax on micro-enterprise’s income
  • Personal income tax
  • Mandatory social security contributions
  • Tax on income obtained from Romania by non-residents and tax on foreign representative offices established in Romania
  • Value-added tax
  • Excise duties and other special taxes
  • Local taxes
  • Construction tax
  • Final dispositions

Discover more: September 2015 roundup of tax 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

Multinationals with operations in Romania should familiarise themselves with the legislative developments and make any changes necessary to their business procedures to remain compliant.

Taxand's Take Author

Angela Rosca
Romania

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