The taxation of multinationals by at least 15 pct goes into a straight line, and Romania will have to adapt its legislation to include these new taxation rules, covering also specific situations, according to an analysis made by Miruna Enache, EY Romania & Moldova Tax Partner, EY CESA Tax Markets Leader."Multinationals must be prepared: Romania, through the voice of its Minister of Finance, Adrian Caciu, begins preparations for the implementation, as of January 1, 2023, of the Directive on the minimum level of taxation. Since the administrative and compliance costs of the introduction of the Global Minimum Corporate Tax (GloBE) will be minimal, so as the Organisation for Economic Co-operation and Development (OECD) is assuring, where the Government will have to really work, will be on adapting the legislation so as to take into account all the specific situations and prepare clear rules, to ensure an easy enforcement of the European Directive," the article mentioned says.The EY Romania partner says that Romania will have to adapt its legislation to include these new taxation rules, covering also specific situations (such as micro-enterprises, the situation in which a group's entity located in Romania must apply the minimum additional tax, even if it is not a holding company, etc.). The preparation of clear rules for the practical enforcement of the new rules is extremely important (as the implementing rules for all the European legislation implemented in our country have proved to be extremely useful).
President Nicușor Dan said the “rule of law is not negotiable” and stressed that serious problems affecting the justice system can be resolved, as public concern grows following allegations of corruption highlighted in a recent investigative documentary by Recorder titled “Captured Judiciary.” People
Romanian authorities have reportedly confirmed an increase in “super flu” cases in December after the virus caused unprecedented problems in other European countries. In total, over 3,000 flu cases were reported in Romania in just the first week of December, double the number recorded in the previous week (1,504), Euronews Romania reported. The virus is […]
This autumn, a mature linden tree on the campus of the British School of Bucharest (BSB) was relocated to a new position within the school grounds to make space for the development of new sports facilities. The operation, supervised by two UK specialists from Ruskins Trees & Soil Biology Ltd, represents the first such relocation […]
Romania continues to record the largest value-added tax gap in the European Union, losing around one-third of both VAT and corporate tax revenues, according to an analysis by PwC Romania based on the VAT Gap in Europe report by the European Union. The country has held the top position in VAT non-collection for the past […]
Romanian companies recorded higher profitability than peers in Bulgaria, the Czech Republic, Hungary, and Poland across nine economic sectors, positioning Romania among the most attractive regional markets for investors in selected industries, Ziarul Financiar reported, citing a joint study by the Bucharest...
Romania ranks 19th globally for mobile internet speed, surpassed not only by advanced economies in the region but also by neighboring countries, which have accelerated investments in mobile infrastructure and managed to achieve faster and more stable connections, according to Economica.net,...
