Changes in Romania's Financial Assets Tax

Romania has published Emergency Ordinance No. 19 of 29 March 2019 in the Official Gazette, which amends the new financial assets tax on credit institutions that was introduced 1 January 2019. Key points are summarized as follows:

• The rates based on the Romanian Interbank Offer Rate (ROBOR) are replaced with fixed rates of:
  • 0.2% for credit institutions with a market share below 1%; and
  • 0.4% for those with a market share equal to or above 1%;
• The tax base is narrowed with the exclusion of t…