Individual taxation III

Personal deductions Romanian individuals domiciled in Romania as well as foreigners meeting the residence criteria for three consecutive years are entitled to personal deductions, which vary depending on the gross monthly income and the number of dependents, as follows:
• for gross monthly income up to RON 1,000, the monthly deductions vary between RON 250 for persons without dependents and RON 650 for at least four dependents;
• for gross monthly income between RON 1,000 and RON 3,000, the digressive deductions have been established through an order of the Ministry of Finance.

For gross monthly income higher than RON 3,000, the taxpayer’s right to deductions is withdrawn.

Filing and payment requirements Taxpayers, with certain exceptions, have to file an annual income tax return as well as special declarations with the tax authorities by 15 May of the following year. The tax authorities compute the annual income tax on the basis of the information provided in the annual income tax return. The taxpayers are subsequently informed about the tax payable/reimbursable and the deadline for its payment. [...]

Citeste integral articolul "Individual taxation II" in LegalRomania.com