Law no. 54/2020 for the approval of OUG no. 33/2020 on some tax measures and the amendment of certain regulatory acts

20 May 2020

In brief

The Romanian Parliament has adopted additional measures to those in Government Emergency Ordinance No. 33/2020 (OUG 33/2020) in order to ensure the collection of state budget revenues.

In detail

In the second and third quarters of 2020, the tax due will be reduced by 10% for taxpayers paying corporation tax, irrespective of the reporting and payment system, or microenterprise tax if they pay by the due dates.

For the second quarter of 2020, the deadline for tax payments is 25 July 2020. For the third quarter, the deadline is 25 October 2020.

[Law No 54/2020 for the approval of the OUG No 33/2020 on some tax measures and the amendment of certain normative acts, published in Official Gazette No 396 of 15 May 2020]

The Takeaway

Law No. 54/2020 grants a 10% reduction for corporation and microenterprise tax payers if they pay the taxes due by 25 July 2020, for the second quarter of 2020, and by 25 October 2020, for the third quarter.