Further Amendments To The Romanian Fiscal Code

1. Introduction

The beginning of 2021 seems to be under the auspices of numerous amendments incurred to the Law no. 227/2015 regarding the fiscal code (the "Fiscal Code").

After the issuance of Law no. 296/2020 for the amendment and completion of the Fiscal Code (the "Law no. 296/2020"), the Romanian Government deemed necessary to add further amendments to the Fiscal Code, mostly for correlation and clarification purposes.

As such, on February 26, 2021, by way of the Government Emergency Ordinance no. 13/2021 for the amendment and completion of the Fiscal Code and the Accounting Law no. 82/1991 (hereinafter "GEO 13/2021"), the Romanian Government introduced a series of changes concerning profit tax, income tax and social contributions, value added tax ("VAT"), as well as the applicability of certain accounting provisions, which are further detailed in the following.