The Romanian Government approved in its meeting earlier today (June 23rd) the emergency ordinance which expands the taxation base, according to Mediafax, quoting sources within the Government. The ordinance includes taxes for meal vouchers, gift and holiday vouchers starting July 1st this year. This is when the deductible expenses quota for intellectual property rights will go down to 20 percent of the gross revenues, half of the current quota. Revenues from gambling (including revenues from the lottery) will be taxed by 25 percent.

Owners of several houses which are not rented out need to pay a solidarity tax until September 30, apart from the due property tax.

The individuals with revenues from independent activities who work with companies that are paying the social contributions and taxes on behalf of these individuals will have to pay these contributions themselves if the company goes insolvent.

Under the new provisions in the document, the fiscal authorities will be able to decide themselves whether an activity which is done through an intellectual property right contract is actually dependent on a company and should be assimilated to salaries. The decision will be made based on 'any elements', according to the law.

Individuals will also need to pay a 16 percent tax on the interest rate for bank deposits and current accounts. For deposits set up before July 1st, individuals will only pay a tax on the interest for the period between July 1st and the maturity date.