Starting January 1st , the taxation of individuals changes dramatically as Emergency Ordinance 79/2017 enters into force. In case of wage income, the most important change represents the transfer of the social security contributions of the employer to the employee. Those who will suffer the most from this change will be those that are tax exempt.
News
On November 4, 2016 a Emergency Ordinance project has been published for the change of Law 227/2015 regarding the Tax Code and Law 207/2015 regarding the Tax Procedure Code.
The Romanian Government plans on introducing the split VAT payment system.
Under Law no. 170/2016, taxpayers that perform activities in the HoReCa industry (hotels, restaurants, coffee shops) must apply specific rules regards the computation, declaration and payment of corporate income tax.
On December 6, 2016 a Government Emergency Ordinance has been published in the Official Gazette no. 977, for the change of Law 227/2015 regarding the Tax Code and Law 207/2015 regarding the Tax Procedure Codedata.
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Draft Law regarding the approval of the accession of Romania as an associate member to the BEPS project
The Romanian Parliament issued the draft law regarding the accession of Romania as an associate member to the BEPS project initiated by OECD.
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