Global Directory
04 Jul

Romania sees third VAT rate cut in the last 18 months

Romania’s Government approved via emergency ordinance the VAT rate cut on agricultural inputs and services to stimulate the agriculture sector. The measure, which has a low impact on the state budget revenues, may also lead [...]

24 May

Romania’s economy, boosted by fiscal support

The high economic growth expected in Romania this year is largely due to fiscal stimulus and the country’s macroeconomic indicators will worsen next year, according to a report by the International Monetary Fund (IMF). “Growth is [...]

13 May

Italy-Romania Agreement: new Additional Protocol

The Council of Ministers, following a proposal of the Minister of Foreign Affairs and International Cooperation, approved a draft law of ratification and implementation of the Agreement between Italy and Romania for avoiding double taxation [...]

04 May

Romania joined the EU Customs Code

Starting from 1 May 2016, Romania joined the EU Customs Code. In this way, once the goods have been declared in the country, once the customs formalities have been completed, they can move freely or can [...]

03 Mar

The effects of the new Tax Code since January 2016

The effects of the new Tax Code: Taxation pushes the PFA into the small business sector. In January, PFA recordings dropped by 50%.   The number of Authorized Individuals (PFA) recorded in January dropped by 50% compared [...]

09 Dec

Total tax revenues scoring better than the past decade

Court of Auditors report reveals that in 2014, taxes collected to the state budget accounted for 67.5% of total revenues collected by ANAF. By the total revenues collected by ANAF, VAT receipts accounted for 27.9%, [...]

03 Dec

Taxes and companies’ profits compared in Romania

The Total Tax Rate measures the amount of taxes and contributions payable by businesses and expresses a portion of their profits. According to the Paying Taxes 2016 Global Ranking, in Romania this is 42%, just below [...]

09 Nov

Romanian tax collection management needs improvements

The European Commission has found that Romania has made progress over the recent years with fiscal mix and the reform of the National Tax Administration Agency (ANAF), but it still has problems with collecting taxes, [...]

22 Oct

VAT reduction on Tax Code from January 2016

The Romanian Government will amend again the Tax Code by emergency ordinance to cut the VAT on water from 20 percent to 9 percent, Finance Minister Eugen Teodorovici announced. Cutting VAT on water measure will [...]