<\/span><\/h2>\n\n\n\nAccording to the changes brought by the law in 2022, the exception from paying income tax for salary-related income of individuals with activities based on an employment agreement for 12 months with Romanian companies and seasonal activities was eliminated. Also, the field of construction has changed.<\/p>\n\n\n\n
For example, fiscal facilities are now limited to assimilated salaries of up to 10,000 RON and not up to 30,000 RON, as it was until recently. We also mention that no reduced social contributions and no income tax are due for salary assimilated income of 10,000 RON gross. We recommend that you talk with our accountants in Romania<\/strong> and find out all the information on this matter, in order to be aware of the fiscal changes brought by the law.<\/p>\n\n\n\n<\/span>Some aspects related to the Romanian economy<\/strong><\/span><\/h2>\n\n\n\nAccording to the latest data, GDP in Romania grew by 4% year-on-year in Q3 of 2022, thus marking the sixth consecutive quarterly increase. It is also mentioned that Romania\u2019s economy grew by approximately 1.3%, in the current social and political context. Positioned at approximately 11.8%, inflation registered a significant increase, but according to estimates, it will decrease significantly in the next two years.<\/p>\n\n\n\n
While the unemployment rate is somewhere around 5.4%, the gross public debt is approximately 47.9% of the total recorded GDP. Even if the agricultural sector and the chemical industry were affected in the direction of development in 2022, EU funds are expected to inflow, and GDP growth to be supported by gross fixed capital and the Recovery and Resilience Facility. But what will impact inflation until it stabilizes, will be the price of gas and energy, but changes in this sense will be registered starting from 2023.<\/p>\n\n\n\n
If you want to find out how the new economic directions and changes in the tax legislation affect your business, we recommend that you contact our specialists. We can provide you with information about the taxes in force and the changes made, as well as help with the implementation of the new tax rules and tax exemption in Romania<\/strong>.<\/p>\n\n\n\n