Romanian tax update
Law no. 263/2019 amended Law 227/2015 regarding the Fiscal Code, with changes taking effect on January 1, 2020. Key modifications include:
-
The national minimum wage no longer applies to social security and health insurance contributions for part-time employment. Instead, contributions are calculated based on actual salary amounts earned.
-
Excise duties on motor fuel have been reduced according to the annual inflation rate, as determined by the Ministry of Public Finance.
-
For individuals with non-salary income, the minimum annual income threshold triggering social security and health insurance contribution obligations increased from 24,960 RON to 26,760 RON.