Romania Approves Emergency Ordinance Amending the Tax Code

On 10 December 2014, the Romanian government approved the Emergency Ordinance for amending the Tax Code. The main amendments include:

• Excise duties will be expressed in Romania Leu instead of being converted from Euros to Leu
• VAT anti-evasion controls are introduced for taxpayers deregistered for VAT purposes that request re-registration, and for taxpayers registered for VAT that have an increased VAT evasion risk
• The tax on supplementary income derived by companies on the natural gas market…