Changes in Law 227/2015

As of February 1 Law 227/2015 was amended concerning the Tax Code of Romania. Here are the most important changes:

– Persons who deal exclusively with activities related to innovation (research and technological development) are exempt from paying corporate tax for the first 10 years of starting the activity.

– There are new rules for determining the status of microenterprise for tax purposes, the threshold for this becomes EUR 500,000. Accordingly, the rates of income tax of microenterprises change as follows:

o 1% for microenterprises with one or more employees

o 3% for microenterprises with no employees.

All companies, which according to their revenues in 2016 meet the classification of microenterprise, should submit a request to change their tax regime until February 25, 2017.

– The payments for medical services subscription which are at the expense of employees and workers are tax deductible to the equivalent in RON of EUR 400 per year.

– New rules for the taxation of income from the acquisition of inherited properties are introduced.

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