Optional Pensions Contributions: Deductibility for Employer/Employee
The contributions to optional pension funds according to Law no. 204/2006 and voluntary health insurance according to Law no. 95/2006, republished, paid by the employer for its own employees, are not taxable in the understanding of the income tax in the limit of 400 euro/year/person. The expenses made on behalf of an employee for optional
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Non-Resident Company Administrators in Romania: New Stating Duty
The payers of incomes from salaries or assimilated to salaries /payments of administrators and of other persons assimilated to those, that have the obligation to calculate, withhold and pay the tax on incomes from such earnings, will transmit to the fiscal authorities belonging to the National Agency of Fiscal Administration, through the filling in of
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2017: The Ceiling of the Contribution for Health Insurance
The incomes derived starting with January 1st, 2017, if the total of the incomes is bigger than the value of gross average salary multiplied by 5, the individual contribution for social health insurance is calculated in the limit of this ceiling. Thus, starting with January 1st 2017, we will have: for salary incomes: if the
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Incomes from Dividends: contributions owed in 2016-2017
In 2016, persons deriving incomes from dividends will not owe the contribution for social health contributions for these incomes, if they will derive incomes from: Salaries Pensions Independent activities Farming activities Unemployment allowance and allowances for child raising Social allowance granted according to Law no. 416/2001 Allowance for temporary work incapacity after an work accident
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2016: Incomes Derived from Intelectual Property Rights
The new Fiscal Code brings the following changes regarding the incomes derived from intelectual property rights: The increase of the quota for deductible expenses from 20% to 40%; It is still possible to opt for determining the income tax as final tax (16%). The option of taxing the gross income is expressed in writing at
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Reconfiguration of the Incomes from Independent Activities
From January 1st, 2016, the incomes derived from civile agreements are not anymore considered in the category of incomes from independent activities, but in the category of incomes from other sources. Starting with this year, are considered in the category of incomes from independent activities only the incomes derived by: Authorized individuals, individual enterprises, family
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Gifts and Gift-Tickets: Implications Employer/Employees
Implications for the employer: The expenses for gifts in money and in kind are considered social expenses. Starting with January 1st 2016, the social expenses are deductible at the calculus of the profit tax in the limit of a 5% quota (in comparison to 2% as it was up to now). In this category of social
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Modifications for Payroll Calculation
Personal deduction. Supported persons. Statements and justifying documents Personal deduction According to the Fiscal Code applicable starting to this year, the procedure for calculating the personal deduction is modified starting with January 1st 2016. Personal deduction is granted for individuals deriving a gross monthly salary up to 1.500 lei (included), as it follows: tax payers
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Fiscal Changes for Authorized Individuals (PFA) starting with January 1st 2016
Regarding the activity of the authorized individuals, and also of the natural persons (the classification of this activity as independent), the New Fiscal Code introduces 7 criteria considered when determining the activity of an individual as an independent activity. Thus any activity conducted by an individual with the purpose of deriving incomes will be considered
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Activities of Day Laborers
Official Monitory no. 818 of 03.11.2015 The Law no. 254 of November 2nd, 2015 for the approval of the Cabinet Emergency Order no. 36/2014 regarding the modification and addition of the Law no. 18/2014 for the modification and addition of the Law no. 52/2011 Regarding the carrying out of activities of occasional nature performed by
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