RO e-Invoicing and RO e-VAT system updates

On June 21, 2024, Emergency Ordinance no. 69/2024 was published, which brings amendments and additions to the regulations regarding the management and implementation of the national system for electronic invoicing, RO e-Factura, and electronic fiscal cash registers, along with other fiscal measures. Key Changes to the RO e-Factura System Extension
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Significant Changes in Taxation Policies for Microenterprises

Notable amendments have been introduced, particularly impacting microenterprises across various sectors. Here are the key updates: Revised Tax Rates for Microenterprises: The taxation landscape for microenterprises has undergone significant changes, affecting businesses in different economic sectors. The 1% tax rate remains applicable solely to companies with revenues below 60,000 Euros.
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Significant Changes in Fiscal Policies – Profit Tax Updates 2024

The recent fiscal policy changes for the year 2024, bringing important updates to the profit tax, highlights the followings: Adjustments of Fiscal Loss Recovery: Starting from the fiscal year 2024, the period for recovering fiscal losses is reduced to the next 5 years, with the possibility to recover only 70%
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Obligation of the e-Invoice system

Following the draft legislative changes recently published by the Ministry of Finance,  it was introduced the mandatory obligation of the e-Invoice system applied to all taxable persons carrying out activity on the territory of Romania. Thus, we would like to inform you that starting from January 1, 2024, your company
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New accounts in the Chart of Accounts introduced by Order 2649

On September 28, 2023, the Romanian legislature adopted Order 2649, introducing a set of new accounts into the Chart of Accounts. These accounts include: Account 1496, "Losses resulting from company reorganizations, corresponding to the negative net assets of the absorbed company." Account 6121, "Expenses related to royalties." Account 6122, "Expenses
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Changes regarding tax exemption for reinvested profit

Starting from the 1st of January 2023, it will apply the facility regarding tax exemption of reinvested profit to investments in fixed assets used in production and processing activity and in fixed assets representing refurbishment. The profit invested in machinery, fixed assets used in production and processing, and fixed assets
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New rules applicable to micro-enterprises and changes to the dividend tax adopted by the Government by Ordinance no. 16/2022 – applicable from 1 January 2023

Micro-enterprises: The turnover threshold for applying the micro-enterprise income tax is changed from EUR 1.000.000 equivalent to EUR 500.000 equivalent in lei. This condition regarding the threshold must be fulfilled on 31.12.2022 for 2023. Suppose a company that pays micro-enterprise income exceeds the turnover threshold of EUR 500.000 during the
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Tax exemption for reinvested profit

To optimize companies’ tax planning, we would like to present below the current treatment of the profit that a company can invest in purchasing fixed assets, benefiting from tax exemption.   The reinvested profit in technological equipment, electronic computers, cars and devices, and software, including those bought based on financial
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