In A Mild Winter, A Strong Wind Of Tax Changes

There will be a significant number of tax changes in Romania in 2023. While companies may welcome some of them, others will bring them additional tax costs this year or next.
Below is a summary of the long list of tax changes applicable from 1 January 2023:

• The tax exemption for reinvested profit can also apply to assets used in production and processing, as well as assets representing re-technology, under certain conditions.
• Microenterprise income tax becomes optional. Some conditions for classification as a microenterprise are changing, namely: (i) maximum income of EUR 500,000, equivalent in RON; (ii) revenues from consulting and/or management not to exceed 20 % of total revenues (tax consulting is an exception); (iii) at least one employee; (iv) associates/shareholders own more than 25 % of the capital/voting rights in no more than three companies applying the same system.