The Ministry of Finance published on Monday night the draft amendment to the Fiscal Code, which provides, among other things, for increasing the dividend tax from 5% to 8%, lowering the income threshold to which a company is considered a micro-enterprise, a 9% increase in VAT on non-alcoholic beverages containing added sugar or other sweeteners or flavorings and an increase in excise duties on cigarettes.As to the taxation of micro-enterprises, the bill proposes to reduce the ceiling of revenues obtained in the previous year, from one million euros to 500,000 euros, but also establishing the condition that the micro-enterprise must have at least one employee. Currently, tax rates are differentiated for micro-enterprises according to the number of employees, a rate of 1% being applicable if the micro-enterprise has at least one employee and a rate of 3% if the micro-enterprise has no employees. Given that, according to the new bill, micro-enterprises will be required to have at least one employee and the tax rate of 3% is eliminated.The draft amendment eliminates the possibility of applying the profit tax if the conditions related to the value of the share capital and the number of employees were met.In terms of VAT, the increase in the quota for beverages containing added sugar aims, according to the cited document, to discourage the consumption of such products, with an important impact on the health of consumers.Also, as of January 1, 2023, the VAT rate increases from 5% to 9% for both the delivery of food, including beverages (excluding alcoholic and non-alcoholic beverages containing added sugar or other sweeteners or flavored ones), intended for human and animal consumption, as well as for restaurant and catering services and for hotel accommodation activities.The draft Ordinance proposes to increase the excise duties for cigarettes, starting with August 1, 2022, from 563.97 lei / 1,000 cigarettes to 594.97 lei / 1,000 cigarettes, as well as the adoption of a new calendar for the gradual increase in the total excise duty level for cigarettes.The draft normative act also proposes the revision of the regulation on the granting of fiscal facilities in the construction sector, as well as in the agricultural sector and in the food industry in the sense that only natural persons who obtain income from salaries and assimilated to salaries based on individual employment contracts concluded with employers that fall under the conditions provided in art. 60 point 5 and point 7 of the Fiscal Code. In these sectors, it is proposed to lower the ceiling up to which the tax facilities are granted, respectively from 30,000 lei per month to 10,000 lei per month, inclusively.
The Japanese premium skincare brand Onshindo Osaka officially enters the Romanian market through its exclusive distributor, Pharma Brands, marking a new milestone in its European expansion strategy. Following its successful launch in Spain, the company aims to capitalize on the growing interest of Romanian consumers in premium skincare products with clinically proven efficacy and authentic […]
Honor appointed Kerr Cheng as the new country manager for Romania, placing him at the helm during a “key phase” of the brand’s expansion in Central and Eastern Europe. The company said Romania remains one of its most dynamic and strategically important markets in the region, and Cheng will be responsible for accelerating local growth […]
Romania has closed its participation in the 2025 Venice Architecture Biennale with the conclusion of Human Scale, the exhibition presented in the Romanian Pavilion at Giardini della Biennale and in the New Gallery of the Romanian Institute of Culture and Humanistic Research. Meanwhile, the project’s official catalogue has been made available to the public. The […]
The forests around the mountain city of Brașov and the Postăvaru Massif may be home to the largest densities of large owls in the world, according to a study by biologist Călin Vasile Hodor from Wildlife Management Consulting and professor Dan Traian Ionescu from the Faculty of Forestry Brașov, as quoted by BizBrasov.ro. The study […]
The final version of Romania's national defence strategy 2025-2030, as amended following the public consultations and approved by the members of the Supreme National Defence Council (CSAT), is to be presented by president Nicusor Dan in Parliament, where it will be debated and voted on by lawmakers. The Romanian state must be prepared to manage […]
Romania aims, through its new National Defense Strategy, to become the second military power on the eastern flank and a defense provider in the Black Sea region, according to defense minister Ionuț Moșteanu. The new National Defense Strategy is a paradigm shift, the minister said. “A fundamentally different point of view is that we are […]
