Proposed Changes to Romania's Tax and Fiscal Procedures Code

On 1 August 2014, Romania's Ministry of Finance published a press release summarizing proposed changes to the country's Tax Code and Fiscal Procedures Code. The main proposed changes currently under discussion include:

• The application of the reverse charge mechanism for supplies of buildings and land
• An increase in the deduction limit for expenses incurred by employers for their employees' private pension schemes and with private health insurance premiums up to the Romanian equivalent of €65…