Only one in ten employers plan to adjust gross pay in the context of the elimination of tax relief for employees in IT, construction and agriculture and expect lower employee motivation and higher staff turnover, according to a survey conducted by PwC Romania, between 14-20 January. ‘Only one in ten employers intend to adjust the gross salary in the context of elimination of tax relief for IT, construction and agriculture employees, and expect a drop in motivation for the employees and higher turnover’ according to the results of the HR Barometre survey made by PwC Romania between 14-20 January 2025. According to the ordinance, adopted at the end of 2024, starting with January 2025 incomes, the tax facilities concerning the exemption from income tax and contributions to privately managed pension funds for employees in the IT, construction and agri-food sectors, previously applicable for gross monthly incomes up to and including RON 10,000, are abolished. For example, in IT the elimination of the exemption from income tax and reintroduction of compulsory contribution to Pillar II pensions lead to monthly losses between 650 and 1.125 lei for those with gross salaries between 10,000 and 20,000 lei. At the same time, two out of ten companies intend to attenuate the impact of the fiscal changes through supplementary benefits or training and personal development programmes. More than half of the interviewees consider that the elimination of the exemption from income tax will lead to reduction of motivation and productivity of the employees, and four out of ten companies consider that personnel turnover will increase among the employees affected by the legislative changes. A third say they did not take any measures until now and 46% did not take any decision. The HR Barometer survey was conducted by PwC Romania between 14 - 20 January 2025, based on information provided by 130 participating companies from IT and Telecom - 22%, Outsourced Services - 17%, Financial Services - 12%, Industrial Products - 10%, Consumer Goods, Distribution - 9%, Retail - 9%, Pharmaceuticals - 7%, Automotive - 7% and Construction - 2%.
Two new investment funds active in Romania, Sparking Capital II and PCP SEE II, will receive allocations worth EUR 30 million under the National Recovery and Resilience Plan, or PNRR, after an approval from the Romanian executive and the European Investment Bank. The allocations are mediated by the European Investment Fund, a European financial institution, […]
The net revenues collected by Romania’s tax agency ANAF for the state budget increased by 12.2% in the first six months of 2025 compared to the same period last year, reaching RON 245.2 billion (EUR 49 billion), said outgoing ANAF president Nicoleta-Mioara Cîrciumaru. Nevertheless, the net revenues collected by ANAF are RON 3.8 billion (EUR […]
Romanians continue to place the most trust in the Army and the Church, while Parliament remains the least trusted institution, according to the second edition of the Informat.ro – INSCOP Research Barometer conducted between June 20–26. The monthly survey was commissioned by the news platform Informat.ro in partnership with the Strategic Thinking Group think tank. […]
Romania’s National Meteorological Administration, or ANM, issued on Thursday, July 3, an Orange Code warning for heatwave and heightened thermal discomfort, valid Friday and Saturday, July 4-5, in more than half the country, including Bucharest. The parts of Romania not covered by the Orange Code warning are under a Yellow Code for extremely hot weather. […]
Best Credit IFN announces the strategic partnership with the European crowdfunding platform Bondster, becoming the first Romanian non-banking financial institution (NBFI) to attract international capital through this platform. This initial round of financing marks a milestone in the company’s strategy to diversify its capital sources and rapidly scale its lending capacity in a dynamic market […]
Another 93 searches were carried out at public institutions and private residences on Thursday, July 3, in the case of illegally-obtained Romanian identity documents for citizens of former USSR countries. Earlier this week, Romanian police completed 206 searches in the same case. Prosecutors claim that between 2023–2024, over 1,700 individuals born in the Russian Federation, […]
