UniCredit Bank S.A.
Summary:
The Government Emergency Ordinance (GEO) no. 6/2015 for the update regarding the Fiscal Code was published in the Offical Gazette on 14 April 2015 and will come into force as of 1 June 2015.
Thu, 30/04/2015
The GEO no. 6/2015 amended the Romanian Fiscal Code by aligning the fiscal treatment of interest income derived by non-resident and resident taxpayers.
The amendments concern individuals who are resident in an EU or EFTA member state where a DTT is in place and whose revenues are derived from Romania, by way of paying corporate income tax for the taxable profit related to these revenues. The tax withheld and paid for interest revenues would be considered as an advance payment in relation to the corporate income tax / income tax.
Impact on investors: Amendments on the Fiscal Code aligning the fiscal treatment of interest income derived by non-resident and resident taxpayers will come into force as of 1 June 2015.