Publication series

Welcome to KPMG in Romania Newsflashes' page.

European Parliament adopts Commission's proposals on social security

The European Parliament recently adopted a proposal from the EU Commission which makes amendments to the modernized Social Security Coordination Regulation .

New VAT rules for vouchers

European Commission announced the rules on the VAT treatment of vouchers throughout the EU.

Agreement between the European Union and the United States on mutual recognition of Authorized Operators

European Union and the United States signed an agreement for mutual recognition of Authorized Operators.

Council’s Decision regarding the limitation of the VAT deduction right for vehicles

The Decision authorising Romania to limit to 50 % the right to deduct the VAT on the purchase was published in the Official Journal of the European Union no. 117 from 1 May 2012.

Amendment of Law 506/2004 on the processing of personal data and the protection of privacy in the electronic communications sector

Emergency Ordinance no. 13/2012, which amends and brings additions to Law no. 506/2004 was published in Official Journal of Romania.

The level of specific excise duties for cigarettes starting 1st of July 2012

As of the 1st of July 2012 such specific excise duties will change from EUR 51.49 per 1000 cigarettes to EUR 53.18 per 1000 cigarettes.

New tax measures within the European Union

France Unveils New Corrective Finance Law with changes to the rules on social contributions, a tax on financial transactions and on combating fraud.

Amendments to Company Law no. 31/1990

The Ordinance has been adopted as a result of the infringement procedure initiated by the European Commission against Romania, the pre-litigation phase.

New guidance on the application of Art. 52 of the Fiscal Code (Law no. 571/2003)

This Order aims to clarify the payment method for income tax.

Legislative news on personal taxation in Switzerland, Spain, France and the U.S.

Whilst Spain has increased tax rates for real estate, the Swiss Government is considering amending the constitution.

Different approaches towards identifying undeclared income and assets

Recently, high net-worth individuals have been brought into the spotlight.

Clarifications on indirect control methods

If during a tax inspection the required documents are not available, the taxable base for taxes and contributions will be determined by estimate.

ANCOM Initiates Consultation Process on Proposed Regulations for MVNOs in Romania

ANCOM has initiated a public consultation process for Mobile Virtual Network Operators (MVNOs).

Building business value in a changing world

Expect the Unexpected: Building Business Value in a Changing World

Changes to social security legislation

The agreement covers both Romanian and Israeli law in relation to old age and survivors’ insurance, invalidity insurance and child insurance.

© 2012 KPMG Romania S.R.L., a Romanian limited liability company and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

KPMG International Cooperative (“KPMG International”) is a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.