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An overview by TaxHouse, Taxand Romania
The Romanian government has recently amended Emergency Ordinances 107/2024 and 115/2024, introducing key updates regarding tax amnesty and minimum turnover tax.
Under the amended tax amnesty provisions, debtors with deferred tax payments can now apply to postpone interest, penalties, and other associated fees, with specific measures for debtors undergoing insolvency and those with tax liabilities for the years 2019 and 2020. The amendments also affect the calculation of the minimum turnover tax , allowing eligible taxpayers to deduct 16% of 50% of their qualifying R&D expenses for the 2024 fiscal year.
Experts from TaxHouse, our Romanian member firm have provided a more detailed overview of these amendments, which can be viewed here.
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