• Service: Tax, Global Indirect Tax, Global Mobility Services, Global Compliance Management Services, International Tax
  • Type: Regulatory update
  • Date: 3/21/2014

Romania - New tax law to comply with EU rules 

March 21: New law (no. 8/2014) in Romania, intended to align Romanian tax law with EU law, was published in the official journal in late February 2014.

Among the measures in the new law are provisions concerning:

  • The rules for taxation of companies that are not residents in a country with which Romania has concluded an income tax treaty
  • The taxation of taxpayers or joint ventures without legal status that conduct agricultural activities
  • New place-of-supply rules for value added tax (VAT) purposes for telecommunications, broadcasting, and electronically supplied services
  • An extended deadline (to 31 March 2014) for buyers of electricity to provide affidavits for purposes of applying the reverse-charge mechanism
  • Excise duties (taxes) with respect to luxury goods, coffee
  • Tax procedure, tax returns, and tax audits

Read a March 2014 report [PDF 522 KB] (English and Romanian) prepared by the KPMG member firm in Romania: Changes to the Fiscal Code and Fiscal Procedure Code

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