The Ministry of Finance published on July 4 the draft law for amending the Fiscal Code.

According to the document, several taxes and duties increase, among which the VAT for carbonated drinks, HoReCa.

The bill is expected to be endorsed by the end of the week.

The dividend tax rate will increase to 8% from 5%.

The threshold for the preferential taxation of micro-enterprises decreases from EUR 1 mln to EUR 0.5 mln.

Also, some fiscal facilities in the construction sector and the agricultural sector will be eliminated.

Most of the changes will take effect from 2023, with excise duties on tobacco and alcohol set to increase on August 1, 2022.

The government thus hopes to bring a surplus of RON 2.2 bln to the state budget in 2022 and RON 13.4 bln (0.9% of GDP) in 2023.

(Photo: Iryna Drozd | Dreamstime.com)

andrei@romania-insider.com