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Bucharest
May 18, 2021
BUSINESS

Fiscal Code changed

The government modified the regulation norms of the Fiscal Code, Money.ro reports. The new text, already published by the Official Gazette, includes significant changes that will have a strong impact upon the country’s tax regime. Romanians already felt the first effect of the new norms yesterday, when fuel prices increased by 0.08 RON/liter, because of the new excise duties for the bio component of petrol and diesel, which was VAT exempted until now. Another new regulation changes the fiscal regime of those who lease more than 5 properties. These incomes will now be treated as incomes from independent activities and will be taxed as such. If incomes from rents are taxed by 16 pc, those from independent activities are also subject to fiscal contributions. On the other hand, companies that paid the minimum tax for a quarter at least, now have two fiscal years merged in just one.

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