Popovici Nitu & Asociatii

The tax rollercoaster

By Mihaela Pohaci and Raluca Rusu

This year commenced with contradictory new provisions in the tax field: on the upside, the long-awaited ‘holding regime’ has been introduced while the previously mandatory cash-based VAT system has been modified and made optional (just in time to avoid an infringement from the EU Commission). On the downside, additional tax burdens were introduced: increases of the excise duties on fuel but also a new tax — the ‘pole tax’. As covering all changes in the fiscal legislation would be a long story, we will briefly address only the high and the low of the ride.

After years of lobbying, the newly introduced holding provisions offer additional attractiveness to the local investment climate.

Under the new regime, subject to certain conditions, corporate tax exemption is available for certain income (dividends, sale of shares, liquidation of a Romanian entity) derived by investors (except companies not resident in ‘friendly’ jurisdictions, in other words with no conventions for the avoidance of double taxation)…

Click on the link below to read the rest of the Popovici Nițu & Asociații briefing.

Sign in or Register to continue reading this article

Sign in

Register

It's quick, easy and free!

It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.

Register now

Why register to The Lawyer

 

Industry insight

In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.

 

Market intelligence

Identify the major players and business opportunities within a particular region through our series of free, special reports.

 

Email newsletters

Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.

More relevant to you

To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.

Briefings from Popovici Nitu & Asociatii

  • The future of vouchers

    After two years of public consultations, as well as various rounds of discussions between member states, new rules on the VAT treatment of vouchers are just about to be born.

  • About association in agriculture

    It has become a truism that the agricultural area of Romania is highly fragmented and that modern and efficient agriculture requires the association of small farmers and consolidated surfaces.

View more briefings from Popovici Nitu & Asociatii

Analysis from The Lawyer

Overview

239 Calea Dorobanti
6th Floor
1st District
Bucharest
Romania
http://www.pnpartners.ro/

Turnover: €9.1m in 2010
Number of Lawyers: 85
Number of Partners: 10
Number of Female Partners: 2