Romania

Legal and Accounting Services in Romania

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Romania Legalities

The legal framework in Romania is inadequate in a number of areas and often one piece of legislation conflicts with another.

Tax and customs considerations

The UK and Romania have signed a double taxation convention.

The VAT rate is 24%.

A lower rate of 9% VAT is applied to:

There are also taxes on land, means of transport, the use of public places, advertising and promotion, and construction certificates.

Excise duties are levied on specific products including:

Rates vary between 1% and 50% and are applied before levying VAT.

The excise rates for cigarettes and alcohol are applied to maximum retail price.

Romania applies corporate income tax at 16%.

Income is taxed at a flat rate of 16%, to which is added, as a percentage of gross income: