Law nr. 360/2023 on the Public Pension System

As of January 1, 2024, Romania has implemented a significant Pension Reform Law, reshaping the landscape of retirement for women. One of the amendments brought by the Pension Reform Law is the increase in the retirement age for women. The retirement age extended to 65 by January 2035. In conjunction
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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. 
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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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