Romania's Tax Code undergoes 23 changes in 7 months

The Tax Code, the implementing rules of the Tax Code, and the Fiscal Procedure Code underwent 23 changes in the first seven months of the year. The most important changes included the tax on tips, the VAT rate change and changes in the registration procedure related to the VAT. For some local companies, these changes generated an increase in the spending related to tax administration, IT services, tax, and account consultancy, according to TMF Group Romania. The legislative changes take place in a context where 8 out of 10 local companies consider that the biggest challenge the business environment currently posts is the complex tax system. A third of the companies said they had to supplement the number of employees in the fiscal department whereas one in ten was fined for not respecting the new regulations. editor@romania-insider.com