Tax Regulations Recent amendments to the Romanian Fiscal Code, specifically to Article 31 regulating the tax losses are applicable starting with 2024 (or the modified fiscal year beginning in 2024, as applicable). Under these changes, annual tax losses as declared through the corporate income tax return can be offset against taxable profits earned in the…
2025 comes with a new tax compliance requirement for small taxpayers in Romania, namely the obligation to prepare and submit the 406-SAF-T return (Standard Audit File for Tax) to the tax authorities. The role of this return is to transmit the company’s accounting data electronically to ANAF (National Fiscal Administration Authority). In other words, the…
Starting January 1, 2025, companies in Romania will need to align with a new version of the CAEN Classification (Classification of Activities in the National Economy), in accordance with National Institute of Statistics (INS) Order no. 377/2024. This update requires companies to carefully review the CAEN codes they currently use, with possible modifications needed in…
Baker-Tilly-RO_Corporate-News_10-2024-v2
The new „little train” Ordinance introduces changes regarding the taxation of dividends, the elimination of some tax facilities in the IT, construction and agriculture sectors and lowers the threshold for micro-enterprises. BTK_tax-alert_OUG-trenulet-2025
A data breach in the European Union (EU) is defined under the General Data Protection Regulation (GDPR) as a security incident that leads to the accidental or unlawful destruction, loss, alteration, unauthorized disclosure of, or access to personal data. This can affect the data’s confidentiality (ensuring that it is accessible only to those authorized to…
