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30 March 2018

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Romania Publishes Law Enacting Certain Corporate Tax and VAT Provisions

Romania has published Law No. 72 of 22 March 2018 in the Official Gazette, which provides for the enactment of certain corporate and value added tax (VAT) amendments, including:

  • Provisions for the deduction limit in relation to the disposal of receivables, which provides that only 30% of the net loss resulting from the difference between the disposal price and the cost/value of the receivable may be deducted (70% for credit institutions, subject to conditions);
  • Provisions for the exclusion of voluntary health insurance premiums and medical service subscription paid by employers up to EUR 400 per year from the basis for social security contributions; and
  • Provisions for an increase in the VAT registration threshold to EUR 88,500 (RON 300,000) effective 1 April 2018, including transitional provisions for businesses already required to register under the prior threshold of EUR 65,000 (RON 220,000) and provisions for businesses to deregister if new threshold not met.

The law entered into force on 26 March.

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