Romania: Romanian new fiscal code provisions posted for public consultation on the Ministry of Finance's website
The Romanian Ministry of Finance has proposed to amend the Romanian fiscal code with the following changes:
- Withholding tax on dividend payments by resident companies to both resident and non-resident companies will increase from 5% to 8%;
- Dividends paid to a pension fund located in Romania and an EEA country, as defined according to the legislation of that country will no longer be exempt from corporate income tax and the general withholding tax regime will be applied. Such dividends are currently exempt from both income and withholding tax.
If approved, the changes will come into force on 1 January 2023.
We will continue to monitor the situation on the Market and will provide further information as it becomes available.
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