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Personal Income Tax
» Health and Social Security
» Corporate Income Tax
» Calculation of Taxable Profits
» Corporate Tax for Foreign Entities
» Corporate Tax Compliance
» Local Taxes and Other Taxes
» Value Added Tax (VAT)
» Customs and International Trade
» Excise Duties
» List of Double Taxation Treaties
» Withholding Tax Rates for Companies in Some Representative Double Tax Treaties
» Health and Social Security
» Corporate Income Tax
» Calculation of Taxable Profits
» Corporate Tax for Foreign Entities
» Corporate Tax Compliance
» Local Taxes and Other Taxes
» Value Added Tax (VAT)
» Customs and International Trade
» Excise Duties
» List of Double Taxation Treaties
» Withholding Tax Rates for Companies in Some Representative Double Tax Treaties
Corporate Tax Compliance
Last update: May, 2010
by PricewaterhouseCoopers
General aspects
- From 2010, tax payers have the obligation to make quarterly advance profit tax payments. The payments are calculated as a quarter of the previous year's profit tax increased by the inflation rate and are due by the twenty-fifth of the month following the end of the quarter.
- The inflation ratio is announced by the tax authorities by 15 April of the year when advance payments are made.
- Taxpayers that incurred a fiscal loss in the previous year make quarterly advance payments at the level of a quarter of the annual minimum tax.
- Newly established companies (i.e. without a previous year history) make quarterly advance payments based on the lowest threshold of the annual minimum tax, i.e. 550 RON per quarter.
- Quarterly tax returns have to be submitted by the twenty-fifth of the month following the end of the quarter.
- Annual profit tax returns have to be filed with the Romanian tax authorities by 25 April of the following year.
- Non-profit organisations, taxpayers that obtain income mainly from crop production have to declare and pay annual profit tax by 25 February.
- Taxpayers required to withhold tax, with the exception of salary payers, are obliged to submit a statement to the tax authorities regarding the tax withheld for each beneficiary by 30 June of the following year.
Non-resident companies
- Non-resident companies deriving income from real estate property located in Romania or sale of shares held in a Romanian company are obliged to declare and pay the related profit tax. Nonresidents may appoint a tax agent to fulfil this requirement. However, if the buyer is a Romanian company or a Romanian permanent establishment of a non-resident company, the obligation to pay and declare the profit tax rests with the buyer.
- For capital gains tax declaration and payment, the Romanian legislation requires the following tax returns to be submitted:
- quarterly statements, from the twenty-fifth of the month following the quarter in which the non¬resident first earned capital gains taxable in Romania; annual profit tax return. - The quarterly statements and annual return have to be submitted during the entire period of time the non-resident is registered with the Romanian tax authorities, even if it no longer carries out transactions generating taxable revenues in Romania.
Late-payment penalty
- There is currently a single type of late-payment penalty of 0.1 % per day of delay