Tuca Zbarcea & Asociatii : Fiscal measures to stimulate the increase of equity in the context of the economic difficulties caused by COVID–19

In the context of economic and financial difficulties caused by the COVID-19 pandemic, in order to ensure additional financial resources to taxpayers, by reducing the tax burden, given the need to stimulate and develop Romanian capital, the Romanian Government adopted the Government Emergency Ordinance No. 153/2020 on some fiscal measures to stimulate the maintenance / increase of equity, as well as to complete some normative acts (“GEO 153/2020”), published in the Official Gazette No. 817/04.09.2020.

Relevant highlights:

• Granting a reduction of the income tax/ micro-enterprises tax/ specific tax, for the maintenance / increase of equity;
• Amendments brought to the GEO No. 33/2020 clarifying certain aspects related to the application of quarterly reductions to the payment micro-enterprise tax and corporate income tax.