Gruia Dufaut



Last updated: 24 September 2015


Our previous article made a brief presentation of the changes brought by the new Fiscal Code in terms of VAT, tax on dividends, buildings or special construction; however, some issues remained undiscussed. Thus, this week’s article makes a presentation of the changes related to the revenues obtained by microenterprises, the deductibility of social expenses, as well as the extension of the category of non-taxable revenues.


According to the Fiscal Code, a microenterprise is a Romanian legal person, whose share capital is not held by the State or the local authorities, who, among others obtains revenues under 65,000 Euros (the equivalent in Lei), 80% of such revenues deriving from management or consultancy activities. The tax on revenues obtained by microenterprises is 3%.

The new Fiscal Code maintains this 3% tax, but it expressly provides that newly established microenterprises, with at least one employee, created for a period of over 48 months and whose shareholders did not hold shares within other legal persons will pay a tax of 1% for the first 24 months from the registration of the legal person. However, in order for the 1% tax to be applicable, within 48 months from its registration, the microenterprise does not have to be subject to a voluntary liquidation proceeding or to dissolution without winding-up procedure; moreover, the microenterprise must not be temporarily inactive, it must carry out activities at its registered office / secondary office and it must not be subject to a share capital increase by contributions performed by new shareholders, sale/assignment/share change operations.


Until now, social expenses were considered deductible when calculating tax on profits within the limits of 2% of the total personnel salary expenses. For example, social expenses are represented by the amounts granted for serious or incurable illnesses, death grants, childcare vouchers, gifts in cash or in kind offered to employees or their minor children.

Following the entry into force of the new Fiscal Code, social expenses will be deductible up to 5%.


According to the present Fiscal Code, gifts offered by employers to their employees’ minor children on Easter, 1st of June or on Christmas do not fall under the category of salary revenues and are not taxed, provided that the gift offered to each person does not exceed 150 Lei.

Following the entry into force of the new Fiscal Code, gifts or vouchers offered to employees on Easter, 1st of June or on Christmas are considered non-taxable revenues, even if their value exceeds 150 Lei/employee.

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