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Tax authorities

The Ministry of Public Finance
Strada Apolodor nr. 17, sector 5, Bucharest 050741
Tel: +40 21 319 9759
Fax: +40 21 312 2509

Tax rates at a glance

(As at September 4 2015 – ref. legislation applicable as of January 1 2016)

Corporate income tax 16%
Capital gains tax 16% (a)
Branch tax 16%

Withholding tax
   Dividends 0%/16% (b)
   Interest 0%/16% (c)
   Royalties from patents and licences 0%/16% (c)
   Branch remittance tax Nil

Net operating losses (years)
   Carryback Not allowed
   Carryforward 7 years (d)
  1. Capital gains obtained by corporate entities are included in their regular profits subject to corporate income tax at 16%; as of January 1 2014, capital gains obtained by resident legal entities from disposal of Romanian entities or entities resident in a treaty-country are exempt from corporate income tax as long as two conditions are simultaneously observed: there is a minimum holding of at least 10% of the share capital of the investee, held for a minimum uninterrupted one-year period at the time of the disposal (Minimum Holding Requirements); capital gains obtained by individuals are taxed at 16% as investment income irrespective of the holding period and type of securities traded.
  2. The 0% rate applies for payments qualifying under the conditions of the EU Parent-Subsidiary Directive for EU tax resident legal entities; 0% also applies to dividends paid under the Agreement between the European Community and the Swiss Confederation to Swiss tax resident parent companies holding at least 25% of the share capital of the Romanian dividend payer for a minimum two-year period at the time of dividend payment; else, as of January 1 2016, a 16% rate applies to dividends paid to all other non-residents and resident legal entities (assuming the Minimum Holding Requirements are not met, otherwise 0% applies to resident legal entities) or individuals, unless a more beneficial rate applies under a double tax treaty or a specific domestic exemption (for example, dividends paid to EU/EEA pension funds are exempt from Romanian withholding tax).
  3. The 0% rate applies starting January 1 2011 for payments qualifying under the EU Interest & Royalties Directive to beneficial owners being EU tax resident legal entities which are affiliated with the Romanian payer by a direct minimum holding of at least 25% maintained for two uninterrupted years at the time of payment (the exemption applies also in case both the Romanian payer and the EU qualifying beneficial owner are held by a third company which at the same time has a minimum direct holding of 25% both in the capital of the first company and in the capital of the second company for at least two uninterrupted years at the time of payment); 0% also applies to payments made under the Agreement between the European Community and the Swiss Confederation to Swiss tax resident companies qualifying under specified conditions.
    The domestic law increases the withholding tax rate to 50% in case of, for example,, interest and royalties paid towards accounts in countries with which Romania does not have in place exchange of information mechanisms and if the said payments are made within transactions qualified as “artificial” under the Romanian tax legislation. Dividends are excluded from this treatment as of January 1 2016.
  4. The seven-year period applies starting with the loss related to fiscal year 2009 (losses incurred before 2009 can only be carried forward for five years).
Source: Taxhouse, Taxand Romania

Leading firms

Romania made considerable progress with the reform of their tax and fiscal code this year. However, proposals for a reduction in the VAT rate have come in for a great deal of criticism and remains up for debate within the parliament.Tudor Nedelea of ... [more]

Dan Badin is head of Deloitte's tax practice in Romania, assisted by a team of 80 fee earners, dedicated to providing a full suite of tax services to regional and international clients. These tax offerings include dispute resolution, corporate tax, indirect ... [more]


Alex Milcev is head of the tax practice at EY Romania, managing a team of five partners and more than 100 fee earners. All professionals at the firm can support clients with a broad range of tax matters, driven by extensive advisory experience in Romanian ... [more]

Mark Gibbins is head of taxation at KPMG Romania, working with a number of experienced tax specialists to provide high quality services to local and international clients. Senior tax partner Niculae Done and head of transfer pricing Teodora Alecu are ... [more]


PwC's tax department is led by Mihaela Mitroi, who joined the firm 18 years ago. In this time, she has developed extensive knowledge in assisting multinational clients with a range of complex tax issues relating to permanent establishment investment ... [more]

Gabriel Biriș and Ruxandra Jianu lead the tax practice at Biriş Goran, which offers sophisticated tax solutions to individual and corporate clients from all over the world, facilitated by an in-depth knowledge of Romanian and international taxation.Key ... [more]

In May 2015, Nadia Oanea was appointed head of tax at Grant Thornton Romania, managing a team comprising six other fee earners, who offer a full suite of tax services covering assistance in structuring, support with tax due diligence, corporate tax and ... [more]

René Schöb is partner and head of tax advisory at Mazars Romania and oversees the transfer pricing service at the firm. The tax advisory services team comprises 18 tax professionals, including two partners. All members of the team can advise local and ... [more]

Angela Rosca is leader of the tax department at Taxhouse, Taxand Romania, managing a team of two partners and 18 other fee earners. All members of the team have experience in managing a range of domestic and international tax issues including M&A, transactions, ... [more]

Valentin Chiliment-Tic has recently been appointed as senior tax manager and head of the tax team in Baker Tilly Klitou & Partners's Romanian office, which consists of two partners and five other fee earners. Another key name at the firm is managing ... [more]

Răzvan Graure is head of the tax team at Musat & Asociatii, managing a team of specialists, comprising two partners and six other fee earners with the ability to assist in a range of matters such as tax structuring, M&A, tax disputes and litigation, ... [more]

Partners Alina Timofti and Marius Ionescu are joint heads of the legal and tax team at Nestor Nestor Diculescu Kingston Petersen (NNDKP), overseeing a team of 18 fee earners with the ability to assist in matters such as tax structuring and planning, ... [more]

Since its establishment in 2000, PKF Finconta has been an active member of the Romanian tax market, providing support in tax consultancy among many other areas including accounting and financial audit. In 2006, the firm became a member of PKF International, ... [more]

Attorneys and certified tax specialists at Popovici Nițu & Asoiciații are experienced in advising clients on business tax structuring, M&A, due diligence and restructuring for business reorganisations, corporate and international planning for Romanian ... [more]

Ţuca Zbârcea & Asociaţii's tax team is jointly led by partners Răzvan Gheorghiu-Testa, Alexandru Cristea and Alin Chitu. The firm, whose activity extends across a range of sectors including energy, real estate, telecommunications and retail .They have ... [more]

Anca Grigorescu is head of tax at bpv Grigorescu Stefanica, leading a team comprising three partners and six other fee earners. The firm can help clients with a range of tax and legal matters relating to corporate tax, VAT and other forms of indirect ... [more]

Luisiana Dobrinescu is head of the tax team at Dobrinescu Dobrev, formed by three partners and four other fee earners, providing services in M&A, financial structuring, due diligence, indirect tax and a range of domestic and international tax issues.Tax ... [more]

Niculeasa Law Offices offers a wide range of tax services including tax restructuring, assistance with tax controversy, corporate tax and international tax planning, under the leadership of Madalin-Irinel NiculeasaArmed by a wealth of litigation and ... [more]

The tax practice at Schoenherr Tax Bucharest provides essential tax services, under the management of Theodor Artenie. Oana Manuceanu and Mihaela Popescu are two key members of the tax team, which has the ability to advise on Romanian and international ... [more]

Claudia Stanciu-Stănciulescu is head of the tax team at TPA Horwath in Romania, which offers assistance in due diligence, advisory, compliance, transfer pricing and tax and VAT structuring for Romanian and international tax.

Adrian Luca is managing partner of Transfer Pricing Services. Professionals at the firm have a comprehensive understanding of Romanian and international taxation and can assist multinational clients in transfer pricing and other tax issues.

Finexpert is ushered into the World Tax rankings with praise from its peers for their tax offerings and breadth of experience in tax consultancy, due diligence, VAT, establishment of foreign companies operating in Romania and litigation. The firm is ... [more]

See also

Central and Eastern Europe

Firm contact details