September 21, 2018

Romania expands income taxation base for non-residents

After the government has changed the Fiscal Code in February to accommodate an expansion of the taxation base, the taxable income obtained by non-residents in Romania now also include services that are provided abroad. The income of non-residents that provide services abroad in consulting, marketing, technical assistance, advertising, or provide assistance as lawyers, engineers or accountants will be taxed in Romania. Up to February 1, non-residents were taxed only for dividends, commissions, royalties or services (management, consulting) provided in Romania. Otilia Bujor, tax manager at PKF Finconta, says Romania’s 16 % taxation rate for the income of non-residents can be lowered, if a double taxation avoidance treaty is closed between Romania and the fiscal residence location of the income beneficiary, as long as this person owns a fiscal residence certificate. Bujor explained this applies for income registered from dividends, royalties, commission, interest or services.

Source: Business-Review (read more)

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