Let us inform you about latest updates and changes in Romanian legislation, attached tax alert is covering the amendments brought to the Fiscal Code by the Government Emergency Ordinance no. 24/2012 published in the Official Journal no. 384 from 7 June 2012.
Our material points out the most important amendments brought to the Fiscal Code, such as a new category of provisions that are deemed as tax deductible, the extension of the limitation of VAT deductibility for certain vehicles and the increase of the threshold for VAT registration. Also, it is worth mentioning that some of the amendments will be applicable starting 1 July 2012 while some of the amendments will become applicable starting 1 August 2012 and 1 January 2013, respectively.
We hope that this is useful to you and should you have any questions on tax matters please do not hesitate to contact us .
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