Bill to change the tax code from 1.1.2024
1.The tax rate on dividends shall be maintained at 8%.
2. As of January 1, 2024, companies that have a turnover of more than 50,000,000 euros in the previous year, and
in the calculation year determine a profit tax, accumulated from the beginning of the tax year until the end of the quarter/accounting year, less than the
minimum turnover tax, are obliged to pay the profit tax at the minimum turnover tax level.
3. There will be two tax rates on the incomes of microenterprises:
– 1% for taxpayers with annual revenues up to and including 60,000 euros and who do not carry out the activities listed below;
– 3% for taxpayers whose annual revenues exceed the ceiling of 60,000 euros or those who carry out the activities under Project
(i.e., software development/modification, HoReCa, legal activities, medical and dental support).
4.For wage income obtained by employees from creative activity in the IT, construction, agriculture and food sector,
exemption from payroll tax applies only to:
– at a single employer/payer,
– for a monthly gross income of 10,000 lei.
5. meal vouchers and vacation vouchers , the equivalent value of such vouchers will be taxable with to the social health insurance contribution (10%).
6. the Wage Income obtained by individuals from computer program creation activities, in the construction industry, in the agricultural industry and in
the food industry will no longer be exempt from paying the social health insurance contribution.
7. The VAT rate of 9%(up from 5%) will be applied to deliveries of social housing.
8. New tax on high-value real estate and movable property:
PF owners of residential buildings located in Romania with the taxable value of the building exceeding 2,500,000 lei are subject to tax
by applying a tax rate of 0.3% on the difference between the taxable value
of the building communicated by the local tax authority through the tax decision and the ceiling of 2,500,000 lei.
Individuals and legal entities owning cars registered/registered in Romania, whose purchase value
the individual exceeds 375,000 lei, owe for a period of 5 years, to tax by applying a rate of 0.3% on the difference between the value of
purchase and the 375,000 lei ceiling.
8. Electronic Invoice
An obligation is introduced for taxable persons established in Romania to transmit invoices in the RO electronic invoicing system, for B2B transactions that
have the place of delivery/execution in Romania, between January 1, 2024 -June 30, 2024. No penalties apply during the first three months.
As of July 1, 2024, the obligation to issue electronic invoices and their transmission exclusively through the RO e-Invoice channel comes into effect for
B2B transactions made by taxable persons established in Romania.
For these situations, the electronic invoice is no longer subject to acceptance by the recipient.
9The national RO e-Sigiliu system is established to ensure compliance traceability of road freight transport on the territory of Romania.
Given the changes being discussed and then approved, please take note and contact our firm for more information.
