The main changes to the Fiscal Code, which have already entered into force in 2023, briefly cover the following sections:

• Tax on dividends, where the rate increases from 5% to 8%. Income tax of micro-enterprises, which becomes optional and for which the conditions of receipt change.
• Income tax and social contributions, where a number of benefits have been canceled and opportunities for construction, the agricultural sector and the food industry have been limited.
• Tax on income from the transfer of goods for use, in the calculation of which the single rate of expenses of 40% is abolished.
• Tax on income from the transfer of real estate
• VAT, where the rate applicable in the HORECA sector increases from 5% to 9%, and for the supply of alcoholic and non-alcoholic beverages containing added sugar or other sweeteners or flavorings, increases to 19%.

The full list of amendments approved by Law 370/2022, introduced by the PwC team in Romania, can be found here.

Article supported by PwC Romania