|Taxable Income||Tax Rate|
Tax Exemptions in Romania
The following categories of employees can avail tax exemption in Romania
Tax exemption is a highly documented process and must respect a certain
strict set of provisions.
Employees with disabilities
Tax exemption is granted only under strict conditions verified by Romanian medical system.
Employees who work in Research and Development (R&D) or Technological Development field
Tax exemption is granted if certain conditions are met as per law provisions.
The Fiscal Code is bringing new rules for personal deduction calculation methodology. The gross monthly income for personal deduction has been increased to RON 1,500. The personal deduction levels have also been increased, being established between RON 300 (for persons who do not have dependents) and RON 800 (for persons with four or more dependents).
The voluntary health insurance premiums incurred by employees will be deductible for salary tax purposes within the limit of EUR 400 annually.
|Taxable Income and Description||Tax Rate|
|Standard income tax rate on corporations||16%|
|Taxpayers that are carrying on activities such as gambling and nightclubs are either subject to 5% rate of the revenue obtained from such activities or to 16% of the taxable profit, depending on which is higher.||5% or 16%|