Romania: Entorn econòmic
Representative offices of foreign businesses are subject to a fixed tax of RON 18,000 for each fiscal year.
Other expenses can be deducted only up to certain specific limits:
Start-up expenses may be capitalised and depreciated over a maximum period of five years, but cannot be depreciated for tax purposes.
Companies can carry forward fiscal losses declared in the annual profit tax returns for a period of a maximum of seven years (no inflation adjustment is allowed). Carryback of losses is not permitted.
For certain activities (e.g. dangerous hazardous substances, activities that generate polluting emissions, etc.), companies have the obligation to declare and to pay (as the case may be) related contributions and taxes to the Environmental Fund.
Entities in the tourism, hotel, restaurants, bars, and catering sector pay a specific tax, regardless of the size of the turnover and the level of profits. The tax is calculated according to the area of the business, the location and other criteria. This tax is not due for the period of emergency related to COVID-19.
Romania | Eastern Europe & Central Asia | United States | Germany | |
Number of Payments of Taxes per Year | 14.0 | 13.9 | 10.6 | 9.0 |
Time Taken For Administrative Formalities (Hours) | 163.0 | 226.2 | 175.0 | 218.0 |
Total Share of Taxes (% of Profit) | 20.0 | 36.5 | 36.6 | 48.8 |
Source: Doing Business, Latest available data.
Individual income tax | Flat rate of 10% |
For the salary income obtained in other cases, taxable income is computed as the difference between the gross salary income and the individual mandatory social contributions.
Individual taxpayers may direct up to 3.5% of their annual income tax to charitable purposes.
An individual is resident in Romania if he/she fulfils at least one of the following conditions: is domiciled in Romania; is present in Romania for a period or periods that exceed 183 days in any 12 consecutive months interval ending in the calendar year concerned; or has the centre of vital interests in the country.
Find out more about Taxes and Accounting in Romania on GlobalTrade.net, the Directory for International Trade Service Providers.
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Actualitzacions: April 2022