Romania: Change in the taxation of interest income derived from Romania by Austrian residents
Change in the taxation of interest income derived...
In January 2015, the Romanian Ministry of Public Finance issued a circular providing information about legislative changes in Austria in relation to the taxation of interest income for non-residents, and which influence the tax treatment of interest income obtained from Romania by Austrian residents.
An income tax of 3% will be applied in Romania to interest income derived by Austrian tax residents, in accordance with paragraph 2 of Article 11 “Interest” of the Convention for the avoidance of double taxation between Romania and Austria (hereafter the “Convention”).
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