Consultancy firm says Romania could cash in EUR 40 mln from taxing foreigners' income

The Romanian state could cash in up to EUR 40 million a year by taxing the salaries of foreigners who work in Romania more than 183 days, according to Luminita Ristea, managing partner with CRG Nexia consultancy firm. “If there are 10,000 foreigners working over 183 days in Romania during a year and who make around EUR 2,000 a month, taxing this income by 16 percent would give EUR 40 million to the state,” Ristea explained. Individuals from the EU are obliged to submit a fiscal declaration and receive a fiscal identification number in Romania. However, most foreigners don't know they need to declare the revenues they have in Romania to the Romanian authorities as well, Ristea added. editor@romania-insider.com