PwC: Doubling of turnover tax to raise banks' effective taxation to as much as 87% in 2026

Romanian banks face a steep increase in their effective tax burden following the government's decision to double the turnover tax for most credit institutions, PwC Romania warned during a conference on July 8, according to Profit.ro. The average effective tax rate for the banking sector is projected to rise from 23% in 2024 to 29% in 2025 and 34% in 2026.

From July 1, 2025, a 4% turnover tax will apply to credit institutions with a market share above 0.2%, rising from the current 2% rate.