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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.

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%

Newsletter: Major Changes in Salary Tax Calculation Adopted by the Romanian Government through OUG no. 115/2023

We would like to bring to your attention significant changes in salary tax calculation recently adopted by the Romanian Government through Emergency Ordinance (OUG) no. 115/2023, published in the Official Gazette, series 1139/15.12.2023. These changes will come into effect from January 1, 2024, impacting various aspects of employee benefits. Key

Minimum gross salary for construction, agriculture and food industry sectors

On October 31, 2023, the Government adopted Emergency Ordinance no. 93/31.10.2023, which introduced changes regarding the gross minimum wage in certain key sectors of the economy. These changes will have a direct impact on workers in the construction, agriculture, and food industry sectors. Minimum Wage in the Construction Sector The

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

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

Order of the Ministry of Finance no. 2,540/2023: increase in cultural vouchers value

According to the new regulations, the values of cultural vouchers have been increased to 210 lei per month and 420 lei per event. The new values established by Order of the Ministry of Finance no. 2,540/2023 will be valid for the second semester of the current year, starting from October

Minimum gross salary increases to 3,300 lei monthly starting October 1, 2023

Starting from October 1, 2023, the guaranteed minimum gross monthly salary in Romania will be increased to 3,300 lei, excluding allowances, bonuses, and other additions, up from the current level of 3,000 lei. With this raise, the minimum net base salary will be 2,079 lei, compared to the previous 1,898

Law 241/2003 grants parents with young children telework options

Law no. 241/2023 introduces provisions aimed at providing better work-life balance for employees with dependent children up to 11 years old. Under this law, upon request, employees who have dependent children up to 11 years old, are entitled to work in a telework regime for up to 4 days per

Business Criminal Law – specialized consulting

In an ever-evolving business landscape, the continuous growth and specialized expertise of team members have become an absolute necessity. Nowhere is this more critical than in the intricate realm of Business Criminal Law, where staying up-to-date and possessing specialized skills are paramount to ensuring adherence to prevailing legal standards. Through

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