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Romania: New tax measures in response to COVID-19

31.03.2020

On Monday, 30 March 2020, a new Emergency Ordinance (no. 33/2020) was published with a view to helping businesses come through this difficult period successfully. Of the measures taken, the following have an impact on taxes:

  • Corporate income tax payers who pay the tax on profits due for the first quarter of 2020 by the standard deadline, i.e. 25 April 2020, will benefit from a reduction in their profits tax, as follows:
  1. 5% for large taxpayers,
  2. 10% for medium-sized taxpayers, and
  3. 15% for other taxpayers; 
  • The above also applies to corporate income tax payers who have established a different fiscal year than the calendar year and who pay the tax on profits due for the quarter by a due date during the period 25 April to 25 June 2020;
  • Taxpayers who fall under Law no. 170/2016 regarding specific tax for certain activities will also benefit from the above reduction;
  • Microenterprises who pay the income tax due for the first quarter of 2020 by the standard deadline, i.e. 25 April 2020, will benefit from a 10% reduction in their income tax;
  • VAT payers who import medicines, protective equipment, other medical devices or medical equipment and supplies that can be used to prevent, limit, treat and combat COVID-19 will be exempted from payment of VAT in customs. The exemption applies for the entire period of state of emergency and for 30 days following it.

Tax
Corona Task Force

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