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Romania

6 June 2018

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Romania Modifies Tax Code Norms in Relation to Certain Amendments Including Interest Restriction Rules

On 25 May 2018, Romania published Decision no. 354 of 16 May 2018, which provides for the modification of the methodological norms of applying the Tax Code. The Tax Code norms provide an overview of the application of certain tax rules, including examples. One of the main changes to the norms is in relation to the application of the new interest deduction restriction rules that were introduced by Emergency Ordinance No. 79 of 8 November 2017 (previous coverage) and apply from 1 January 2018. The new rules limit the deduction of net interest expense exceeding the RON equivalent of EUR 200,000 to 10% of EBITDA. Other changes to the norms are in relation to the limit on the deduction of expenses in relation to the disposal of receivables to 30% of the receivables value, the increase in the turnover threshold for the micro-enterprise regime from EUR 500,000 to EUR 1,000,000, and various other measures.

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