New Romanian fiscal code for 2013
Tax and accounting law for Romanian companies – new Romanian tax regulations
Changes to Romanian fiscal code applicable to 2013
Expenses linked to amortization of company vehicles which have fewer than 10 seats are limited to the tax plan of 1,500 RON/ month per vehicle.
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Compensation received for business travel expenses (within Romania or abroad), or any similar compensation, will be included in employees' salaries (meaning that social security contributions are applied for this compensation as well) if it surpasses:
- 32.50 RON in compensation granted for travel within Romania.
- 87.50 EUR in compensation granted for travel within the European Union (the ceiling for 87.50 EUR can vary for certain countries).
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In order for foreign suppliers of services (like beneficiaries of interest or dividends) to benefit from tax treaties, they must produce a certificate of residence. If no certificate is supplied, the withholding tax will be:
- 16% withholding tax applied in Romania for all foreign suppliers of services (just as for beneficiaries of interest or dividends) located in a country with which there is a Romanian tax treaty.
- 50% withholding tax for all foreign suppliers of services (like beneficiaries of interest or dividends) located in a country with which there is no Romanian tax treaty.
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Intrastat declaration applies to companies which:
- carry out intra-communitary shipment of more than 900,000 RON/year (about 200,000 EUR)
or
- carry out intra-communitary acquisition of goods of more than 500,000 RON/year (about 115,000 EUR/year).
These companies must report to INTRASTAT.