Updates to the Tax Code of Romania

Big companies will be taxed at 1% on turnover if profits are "too low"

Large companies (with a turnover of over 50 million euros) will pay a tax of 1% on the turnover if the annual profit tax (of 16%) is lower than the minimal 1% on turnover.

Exempted are companies that exclusively carry out activities of distribution/supply/transport of electricity and natural gas and which are regulated/licensed by the National Energy Regulatory Authority.

Additional 2% turnover tax for banks

In the case of banks, an additional tax is introduced (in addition to the profit tax) of:

2%, for the period January 1, 2024 – December 31, 2025 inclusive;
1%, starting from January 1, 2026

Also, an additional tax of 0.5% is introduced for oil and gas companies with a turnover of over 50 million euros. Thus, in addition to the profit tax, this new tax will also have to be applied.

Taxation of micro-enterprises

Micro-enterprises (with a turnover below 500, 000 euros) will be charged as follows:

1%, on turnover for micro-enterprises that achieve revenues that do not exceed 60, 000 euros
3% on turnover for micro-enterprises that:

earns more than 60, 000 euros; or
carry out main or secondary activities in various CAEN codes

Tax advisory