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Romania Tax Rates 2015


(Last partial update, March 2015))

Individual Income Tax: Romania's individual income tax rates for 2015 are flat at 16%..
Corporate Tax: Romania's corporate tax rate for 2015 is 16% too.

Capital Gains: Capital gains of companies and individuals are taxed at 16%. For individuals the tax rate for gain from sale of real estate is 1%-3%.

Residence

Romanian companies and individuals pay tax on their Romanian and worldwide income. Non -residents companies and individuals pay tax only on Romanian source income.
A foreign company is resident if the management is in Romania.
An individual is resident if the center of living is in Romania, or if staying in Romania for 183 days within 12 months.



Romania Tax Deductions

  • Losses are carried forward for seven years. There is no carryback for losses.
  • Depreciation is deducted using one of the 3 methods,the straight line method, the reduced balance depreciation and the accelerated method.
  • Provisions for bad debts are allowed under certain terms.
  • There is no company consolidation for tax purpose.

Romania Deduction of Tax at Source

In Romania tax is deducted at source from the following payments to non-residents:
Dividend- 16%.
Interest- 16%.
Royalties- 16%.
Technical Fees 16%.

Note: the tax withholding rates are subject to double taxation treaties and EU interest and royalties directive.

Romania Social Security

The contributions by the employer and the employee are subject to ceiling defined by law.

  Employer Employee
Social Security 15.8% 10.5%
Health Fund 5.2%% 5.5%
Unemployment Fund 0.5% 0.5%
Risk Fund 0.25% --
Accidents Fund 0.15%-0.85% --
Medical Leave 0.85% --
Disabled Contribution 4% --







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