Changes in Romanian fiscal legislation per 1 January 2024 in effect

As of fiscal novelties of interest, I should mention:

A shareholder/associate can hold more than 25% of the value of the shares/shares in only one micro-enterprise. Until now, the limit was holding more than 25% of shares/shares in 3 micro-enterprises. If an entrepreneur has, in 2024, more than 25% shares/shares in several micro-enterprises, he must decide by March 31 which of the companies to apply the tax system specific to micro-enterprises.

Starting in 2024, taxation for micro-business will be: 1% of income for those with receipts of 60,000 euros/year (5,000 euros per month) and 3% for those with receipts over 60,000 euros/year (up to 500,000 euros/year) or who operate in certain sectors (IT, HoReCa, some legal activities, healthcare or dentistry, etc.).

The RO e-Invoice system, through which the invoices issued by a company reach the state authorities at the same time, but also the company/institution that must pay those invoices, becomes mandatory for most companies in Romania (with a few exceptions). In the first stage of RO e-Invoice application, respectively between January 1 and June 30, 2024, companies have the obligation to report in the national RO e-Invoice electronic invoice system all invoices issued in relation to other companies and in relation to public institutions. Later, from July 1, 2024, it becomes mandatory for companies to invoice directly through RO e-Invoice, otherwise they will receive contraventions.

The VAT rate increases from 5% to 19% for the following activities: the use of sports facilities, tourist transport (with historic vehicles, cable transport, with animal traction, with tourist boats), the delivery of bio-eco, mountain food and access to the lakes , Amusement parks. It also increases the VAT from 5 to 9% for the supply of photovoltaic panels and the rest of the category of goods for the generation of green energy.

Meal vouchers and holiday vouchers will no longer be exempt from CASS - the health contribution - and will therefore be taxed at 10%. The total taxation for these benefits thus reaches 20%. At the same time, the Ministry of Labor announced that from February 2024 the maximum value of a meal ticket will increase by 14%, from the current 35 lei to 40 lei.

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