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Romania

15 December 2014

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Romania Approves Emergency Ordinance Amending the Tax Code

On 10 December 2014, the Romanian government approved the Emergency Ordinance for amending the Tax Code. The main amendments include:

  • Excise duties will be expressed in Romania Leu instead of being converted from Euros to Leu
  • VAT anti-evasion controls are introduced for taxpayers deregistered for VAT purposes that request re-registration, and for taxpayers registered for VAT that have an increased VAT evasion risk
  • The tax on supplementary income derived by companies on the natural gas market as a consequence of the price liberalization in Romania will be extended to 31 December 2015
  • The tax on natural monopoly on the electricity and natural gas market will be extended to 31 December 2015
  • The tax on income derived from exploitation of natural resources, except natural gas, will be extended to 31 December 2015

The Ordinance will enter into force after publication in the Official Gazette.

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