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Romania

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Tax authorities

The Ministry of Public Finance
Strada Apolodor nr. 17, sector 5, Bucharest 050741
Tel: +40 21 3199759
Fax: +40 21 3122509
Email: presa.mfp@mfinante.gov.ro
Website: www.mfinante.ro

Tax rates at a glance

(As of July 31 2013 – ref. legislation applicable as of January 1 2014)

Corporate income tax rate 16%
Capital gains tax rate 16% (a)
Branch tax rate 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
Carryforwards 7 (d)
  1. Capital gains obtained by corporate entities are included in their regular profits subject to corporate income tax at 16%; 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 EC Parent-Subsidiary Directive for EU, EFTA (Norway, Lichtenstein, Iceland) and Romanian 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 16% applies to dividends paid to all other non-residents and resident legal entities or individuals (unless a more beneficial rate applicable under a double tax treaty).
  3. The 0% rate applies starting January 1 2011 for payments qualifying under the EC Interest & Royalties Directive to beneficial owners being EU and EFTA (Norway, Lichtenstein, Iceland) tax resident legal entities holding at least 25% of the payer for a minimum two-year period 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.
  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: Tax advisers from TaxHouse – Taxand

Leading firms

The Romanian government is prone to rapidly amending tax laws and introducing new taxes with immediate effect. These swift changes, driven by a need to fill the public purse, have left clients in the jurisdiction disgruntled, explained Delia Catarama, ... [more]

The tax team of Deloitte Romania grew significantly over the past year, hiring 19 new tax professionals. The practice, led by Alexandru Reff, now consists of three partners and 65 other professionals. This growth in personnel has coincided with the number ... [more]

EY

The tax team at EY is one of the largest in Romania with five partners and 81 other fee earners employed. It is divided up into six specialised service lines: business tax, indirect tax, international tax and transfer pricing, human capital, transaction ... [more]

PwC

Mihaela Mitroi heads the tax department of PwC. The practice consists of legal advisers and consultants who offer a range of tax services. Corporate tax issues covered include profit, withholding, and dividends tax, as well as M&A and transfer pricing. ... [more]

Mark Gibbons leads a team of four partners, four directors and more than 100 other tax professionals at KPMG Romania. The practice offers services in the areas of transfer pricing, litigation, VAT, and corporate income tax.The tax practice of KPMG is ... [more]

Taxhouse – Taxand is the Romanian member-firm of the international Taxand network. Taxand is a global network of tax firms located in 48 countries worldwide. The Romanian practice deals exclusively with tax issues.The practice is led by Angela Rosca, ... [more]

The tax team of Baker Tilly offers local and international tax planning, tax compliance and VAT compliance services to its clients.The practice also organises conferences for clients. In the past two years the firm organised an event covering tax challenges ... [more]

The legal and tax firm Biris Goran Tax Consulting has a range of departments in-house that cover, not only tax, but other areas such as corporate, finance, and real estate. The tax practice is able to work with these other areas to offer holistic, business-oriented ... [more]

The tax practice of Musat & Asociatii is led by Ionut Bohalteanu who is both an attorney of law and a certified tax adviser. Bohalteanu is experienced in a range of areas including transaction structuring and restructuring for tax optimisation projects, ... [more]

Nestor Nestor Diculescu Kingston Petersen provides a "one-stop shop" where clients are able to access both tax and legal advice.The tax team is divided into specialist teams dealing with direct tax, indirect tax, transfer pricing, and international tax, ... [more]

Popovici Niţu & Asociaţii's tax team consists of 10 dedicated lawyers and certified tax advisers, covering the entire range of tax issues, including corporate, direct, and indirect taxes.The practice is headed by Alexandru Ambrozie. Ambrozie possesses ... [more]

The tax team at Viboal FindEx consists of three partners and five other fee earners. The practice is capable of completing work for clients in corporate tax, indirect tax, and tax disputes.Viboal expanded in June 2012 as it merged with another tax practice, ... [more]

The tax team at DLA Piper Romania is headed by Tudor Nedelea. Nedelea previously worked for PwC and during his career has developed specialised knowledge in the area of corporate tax. The team consists of five other tax specialists, all whom have a good ... [more]

Dobrinescu Dobrev SCA was founded by the three partners of the firm, Luisiana Dobrinescu, Ionuț Dobrinescu, and Dumitru Dobrev. The firm offers a range of tax services including those in the areas of profit tax, non-resident income tax, VAT, excise and ... [more]

Niculeasa Law Office is a law firm that offers a range of tax services to its clients. These services include VAT, income, local, excise and customs taxes. The practice also has a strong team of tax litigators who are able to support clients during tax ... [more]

Transfer Pricing Services is a Romanian independent advisory firm that offers highly specialised transfer pricing consultancy. The firm is particularly capable in the area of benchmarking studies where it has created a website designed exclusively for ... [more]

See also

Romania
Central and Eastern Europe

Firm contact details