Tax

Christmas gifts for employees: tax rules and benefits for employers

Christmas represents a time when employers can offer benefits to their employees in the form of gifts, whether monetary, in-kind, or gift vouchers. In Romania, these benefits are not only a way to reward employees' work but also an opportunity to reduce tax costs, according to the provisions of the

Order regarding the increase of cultural voucher values

The Order of the Minister of Finance no. 4,680/2024, which sets the indexed value of cultural vouchers for the second semester of 2024, has been published in the Official Gazette. According to this order, starting from October 2024, the maximum value of cultural vouchers granted is 220 RON per month

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

Legislative Change Regarding VAT Deduction for Travel Invoices

Significant changes in Romanian tax legislation have come into effect, affecting companies' ability to deduct VAT for invoices related to employees' and administrators' travel expenses. According to a Government decision, the possibility to deduct VAT for travel invoices issued in the name of employees or administrators has been eliminated. This

International road transport of goods has been brought within the scope of RO e-Transport obligations

Through Emergency Ordinance no. 115/2023, the international road transport of goods has been brought within the scope of RO e-Transport obligations. This measure extends responsibilities not only to customs operations of import-export but also to intracommunity movements (acquisitions and intracommunity deliveries). Thus, economic operators must comply with both existing obligations

Changes regarding Health Insurance Contributions for Medical Leave

As of April 12, 2024, Government Emergency Ordinance 34/2024 has come into force, bringing significant changes regarding the obligation to pay Health Insurance Contributions (HIC) for medical leave, in accordance with the provisions of Government Emergency Ordinance 158/2005. According to the provisions of Government Emergency Ordinance 34/2024, it has been

ANAF Order 1996/2023 – Adapting Romanian tax legislation to the digital economy

In a significant development, the Romanian National Agency for Fiscal Administration (ANAF) has issued Order 1996/2023, aimed at aligning the country's tax regulations with the digital economy. This order introduces Form F7000, specifically designed for online platform operators, to facilitate tax compliance in accordance with Government Ordinance 16/2023 and the

New regulations introduced by Emergency Ordinance 115 – Individual taxation

In the context of recent legislative changes, significant modifications are made regarding the application of income tax exemption. The new rules cover various aspects, including salary income, the value of subscriptions, and various benefits granted by employers to their employees. Below, we will detail the main changes and their implications.

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.

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%

Tax