As of January 1, 2025, amended tax regulations in the areas of local taxes, personal income tax, contributions, value added tax and general tax came into force. Below, we present the most significant amendments to the tax regulations.
On December 12, 2024, the Court of Justice of the EU (CJEU) passed judgment in a case concerning the VAT deduction of the purchase of intercompany, cross-border administrative services by a Romanian entity.
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Please be informed that our office will be closed from 23 December 2024 until 1st January 2025.
The European Commission proposed measures to modernise the EU’s Value-Added Tax (VAT) system, make it more business-friendly and resilient to fraud and address challenges in VAT raised by the development of the platform economy. Proposal was unanimously adopted by the EU Council on 5 November 2024.
The European Union is working to achieve its climate targets in a variety of ways. Companies have a pivotal role to play in this matter. The ‘Deforestation Regulation’ is a new instrument to achieve the environmental targets.