07.22.2015

Romania’s Fiscal Council said the cut in the standard VAT rate from 24% to 19% as of January 1, 2016 actually means a decrease of 8 percentage points, not five points, given that the average VAT more

07.21.2015

The new Tax Code could lower the tax evasion of over 75% in the spirits industry, without decreasing the revenues collected to the state budget, according to Spirits Romania association, which more

07.21.2015

Entrepreneurs, economists, managers and university professors support the implementation of the new Tax Code and the fiscal relaxation measures, considering it a chance that should not be missed, but more

07.21.2015

The Foreign Investors Council, an association of major foreign investors in Romania, supports the new Tax Code as adopted in Parliament but coupled with budget discipline to avoid macroeconomic more

07.20.2015

Romanian President Klaus Iohannis on Monday signed the Tax Procedure Code into law, the president's office said in a statement. more

07.17.2015

Romanian Finance Minister Eugen Teodorovici stated Friday that there is no logical or economic argument in the decision of President Klaus Iohannis to send the Tax Code back to Parliament for more

07.17.2015

President Klaus Iohannis has refused to sign the new Tax Code into law and sent it back to Parliament for reexamination, calling for a closer look at its implications on the state budget. more

07.15.2015

The future mission of economic policies is keeping the macroeconomic balance reestablished after the crisis; thus it would be wrong to ignore the lessons of the crisis and give way to the temptation more

07.07.2015

Finance Minister Eugen Teodorovici said Tuesday that the Romanian government plans to keep the budget deficit at around 1.2% of the GDP in 2016, as agreed with the international financial more

06.26.2015

Officials of the European Commission and the Romanian government have not agreed on the changes Romania brought to its Tax Code and officials of the International Monetary Fund will not return to more

06.25.2015

The Tax Code approved by the Parliament stipulates the VAT cut to 19%, the scrapping of special constructions tax and the fuel excise duty and not the lowering of social insurance tax rates and the more

06.25.2015

The amending of the Tax Code and the Fiscal Procedure Code will "refresh" the business environment, but it does not include provisions for fiscal consolidation for Romanian companies, according to more

06.24.2015

The Romanian Chamber of Deputies on Wednesday approved the Tax Code and the Fiscal Procedure Code, with 306 pros, two cons and one abstention. more

06.23.2015

The introduction of the current form of the Tax Code in Romania starting next year will create a significant fiscal deficit, which could prove difficult to correct, according to the representatives of more

03.25.2015

The government has reserved the right to amend the Tax Code not just by law, six months prior to enforcement, but also though ordinances that take effect within 15 days, after Romania's tax law was more

03.25.2015

Romania's government on Wednesday approved the drat Tax Code and Tax Procedural Code, which will be sent to Parliament to be introduced on the agenda early next week. more

03.16.2015

Romania's government has extended the list of products to get a VAT cut to 9% to include milk, eggs, livestock and live poultry, besides meat, fish, fruit and vegetables, according to an updated Tax more

03.16.2015

Romania’s Government plans to increase taxes on lands within and outside city limits as of 2016, according to an updated draft of the Tax Code, compared to the draft presented a month ago. more

03.16.2015

Romania's government raises taxes on residential property even more as of next year, according to an updated draft of the Tax Code, from the draft presented a month ago. more

02.25.2015

Fiscal policy measures that stimulate economic activity and lower the tax and the administrative burden are welcome but there is also a risk of considerable changes to the draft Tax Code ahead of more

02.25.2015

The Romanian government will discuss the draft Tax Code again in view of approving it in the interval March 18-25, Finance Minister Darius Valcov said Wednesday during the weekly Cabinet meeting. more

02.24.2015

Romania would rather need fiscal relaxation measures in terms of supply, by cutting social security tax, instead of measures to stimulate demand by cutting VAT and excise duties, which will trigger more

02.20.2015

Prime Minister Victor Ponta said Friday he is considering adopting the new Tax code through a confidence vote in Parliament should the bill be blocked in the legislative process or risk not being more

02.18.2015

Romania's government plans to scrap tax on special constructions as of 2016, in order to encourage investments in the private sector and to boost Romanian companies’ competitiveness, according to more

02.18.2015

Romania’s Government plans to eliminate the 16% income tax on dividend payments to companies’ shareholders as of January 1, 2016, in a move to avoid double taxation which is expected to crack down more