direct taxation
in romania
Direct taxes:
Profit tax and income tax
Romanian has recently introduced a flat tax system for income tax and corporate
income tax, at a flat rate of 16%, which became effective as of January 2005.
The Fiscal Code, approved under Law 571/2003, rules the Corporate Income Tax system.
Taxpayers —legal entities
Pursuant to the Fiscal Code, the following are considered as taxable subjects:
- Romanian legal entities, for the taxable profit obtained from any source, both
in Romania andabroad;
- foreign legal entities that carry out activities through permanent establishment
in Romania, for the related income;
- foreign legal entities that carry out activity in Romania in an association
without legal
personality, for the portion of the taxable profit of the association attributable
to each person;
- foreign legal entities obtaining incomes from/or in connection with immovable
property located in Romania or from the sale/assignment of shares of a Romanian
legal entity for the taxable profit related to such incomes;
- Romanian legal entities, for the income obtained both in Romania and abroad
from
associations without legal personality for the taxable profit of the association
attributable to the resident individuals.|
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