Romania: Romanian government introduces new tax allowance
On 15 May 2020, the Romanian Government adopted Emergency Ordinance no. 54/2020 (“the GEO”), which introduces a tax facility for taxpayers to help them successfully overcome the challenges of this difficult period.
Taxpayers of both corporate tax and income tax will be given a 10% allowance on corporate and income tax paid on time. The allowance is applicable to corporate and income tax due on 25 July 2020 and 25 October 2020.
Practice group: Tax