Law no. 571/2003 regarding the Fiscal Code has been amended and supplemented by the publication of Government Emergency Ordinance no. 6/ 2015. This Ordinance introduces provisions on the taxation of income from the transfer of immovable property from personal patrimony, as well as clarifications on advance income tax payments for rental income.
Taxation of income from the transfer of immovable property from personal patrimony
- Clarification has been provided on the obligation of tax authorities to issue a tax decision for situations where the property right is not obtained through a document authenticated by a notary public, through court order or by forced execution.
- Land Registry Office officials are no longer obliged to check whether the tax on the income obtained from the transfer of immovable property has been paid.
Advance tax payments for rental income
- Clarification has been provided on the method of calculation of advance tax payments in the case of dissolution, during the fiscal year, of rental agreements with the rent representing the equivalent in RON of an amount in foreign currency.
Withholding tax
- Legal entities / individuals resident in member states of the European Union or the Economic European Area deriving interest revenues / revenues from freelancing activities in Romania may opt for the regularisation of the withholding tax by way of declaring and paying in Romania the corporate income tax / income tax related to the revenues obtained.
- The tax withheld and paid is deemed as advance payment in connection with corporate income tax / income tax.
Value added tax
As of 1 June 2015, the reduced VAT rate of 9% will be applied to food, non-alcoholic drinks and public alimentation services.
The provisions of the Government Emergency Ordinance no. 6/2015, enter into force as of 1 June 2015.
