Most of the new fiscal and tax measures adopted by the government pursuant to an emergency ordinance (GEO 48/2020 (16 April 2020)) will apply during the coronavirus (COVID-19) pandemic emergency period and for a specified period after the termination of the emergency period.
In particular, the ordinance includes measures providing relief from penalties and collection procedures, the deferral of payment of certain taxes and import value added tax (VAT), and clarifications of the taxation for unemployment allowance payments and other relief provided to individuals during the emergency period. Other measures allow companies to defer certain financial reporting obligations and ease the prerequisites for VAT refunds.
In summary, the emergency ordinance provides, among other relief, that:
Read an April 2020 report prepared by the KPMG member firm in Romania
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