Spain: Council of Ministers authorizes to sign DTA with Romania
On 13 October 2017, the Council of Ministers of Spain authorized to sign a Double Taxation Agreement (DTA) with Romania. Once in force and effective, the new treaty will replace the existing DTA of
See MoreRomania authorizes to sign DTA with UK
On 18 October 2017, the Romanian government authorized to sign a Double Taxation Agreement (DTA) with the United Kingdom. Once in force and effective, the new treaty will replace the existing DTA of
See MoreRomania: Ordinance on mandatory electronic tax return filing published
Romania has published in the Official Journal of 2 August 2017- Regulation No 2326/2017, according to which tax returns will have to be submitted electronically to the National Agency for Fiscal Administration. Tax returns to be submitted
See MoreChina, Romania DTA enters into force
On 17 June 2017, the Double Taxation Agreement between China and Romania was entered into force and it will apply from 1 January 2018. From this date, the new treaty will replace the existing DTA of 1991. The agreement contains Dividends rate 3%,
See MoreRomania: Planning progressive Income Tax
The Government of Romania is planning to replace the flat tax on corporate income with a tax on turnover and this could be effective as early as 2018. The company revenues in Romania are currently taxed at a rate of 16%, but this could be replaced
See MoreRomania: Country-by country reporting requirements implemented
The Romanian Government passed Emergency Ordinance no. 42/2017 on 9 June 2017 to implement country-by-country (CbC) reporting requirements in Romania, transposing the provisions of Directive (EU) 2016/881 dated 25 May 2016 into the national
See MoreRomania: DTA with Uzbekistan signed
The president of Romania signed a law ratifying the amending protocol of Double Taxation Agreement (DTA) with Uzbekistan on 8 May
See MoreItaly: Draft law ratifying DTA with Romania approved
The Senate of Italy approved the draft law ratifying the Double Taxation Agreement (DTA) with Romania on 4 May 2017. Once in force and effective, the treaty will replace the existing DTA of
See MoreRomania: Country-by-Country reporting requirement modified
The Romanian Ministry of Finance published a draft law on 24 May 2017 to modify the CbC reporting legislation of the country. According to the draft law, all Romanian tax resident entities which are ultimate parent of an MNE Group with annual
See MoreRomania ratifies DTA with China
On 8 May 2017, Mr. Klaus Iohannis, the Romanian president signed a law ratifying the Double Taxation Agreement (DTA) with China. Once ratified by China and becoming effective, the Agreement will replace the existing DTA of 1991 and effective as of 1
See MoreRomania approves DTA with China
On 10 April 2017, the Senate of Romania approved the Double Taxation Agreement (DTA) with China for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on
See MoreRomania-Parliament approves participation as BEPS associate
The government of Romania approved the country’s participation as a BEPS associate on 2 March 2017. As an associate Romania will work with OECD and G20 members to develop standards and monitor the implementation of the BEPS package. Romania has
See MoreRomania: VAT registration procedure updated
The Romanian tax authority published Order no. 605, a new VAT registration procedure in the official gazette on 1 February 2017. From 1 February 2017, businesses are no longer required to submit the Form 088, which is a declaration of intention to
See MoreHong Kong-Romania tax treaty entered into force
The Income Tax Treaty (2015) between Hong Kong and Romania has been entered into force on 21 November 2016. The agreement was signed in November 18, 2015. The agreement generally applies from 1 January
See MoreDTA between Romania and UAE enters into force
The Income Tax Treaty (2015) between Romania and United Arab Emirates (UAE) will be entered into force on 11th December 2016 for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income. From this date,
See MoreBosnia and Herzegovina signed a tax treaty with Romania
The Government of Bosnia and Herzegovina signed an income tax treaty with Romania on 6 December, 2016. The new treaty will be replaced by former Yugoslavia - Romania Income and Capital Tax Treaty (1986) when it will in force and
See MoreRomania: Ministry of Finance published a proposal for tax incentives and administrative simplification measures
Romanian Finance Ministry recently published a press release regarding proposals for tax incentives and administrative simplification measures for both individuals and companies. The following matters are included in the proposals; Encourage
See MoreRomania: Government approves a supplementary deduction of 50% of R&D for corporate taxpayers
The Romanian Government published an Official Gazette order approving the norms on the supplementary deduction for research and development (R&D) expenses on 13 July 2016. Under the provisions of the Tax Code, a supplementary deduction of 50%
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