Kindly note that individuals deriving income/loss from Romania and/or from abroad which are subject to personal income tax and social contributions are required to file the annual statement regarding the income tax and social contributions due by individual (the Unique Tax Return).
The annual statement may be filed also by individuals who do not derive any income but opt for the payment of the health insurance contributions in order to be insured in the public healthcare system.
The deadline for submitting the Unique Tax Return is 25 May 2020, inclusive, with the scope to:
- Declare the income tax due on the income derived from Romania and/or from abroad in 2019;
- Declare the income tax due on the estimated income/income norms to be derived from Romania in 2020;
- Declare the estimated income for social contributions for 2020 and, if the case, to declare the social contributions due in 2019.
The Unique Tax Return shall be submitted (i) physical/by post to the NAFA registry or (ii) electronically either through:
- the ”Virtual Private Space” service or
- www.e-guvernare.ro, with qualified electronic signature.
The payment of the tax liabilities related to the income included in the Unique Tax Return may be settled until the payment deadline, 25 May 2020 for 2019, and for 2020, 15 March 2021.
Starting with the income derived in 2018, the tax liabilities shall be exclusively computed by the taxpayers under a self-assessment system; therefore, the tax authorities will no longer issue tax decisions (containing the tax liabilities owed). In this context, we mention that individuals may be subject to tax audits further to the risk analysis performed by tax authorities.
FiNEXPERT may assist you in assessing the tax treatment applicable to the income earned from Romania or from abroad and also with the preparation and submission of the Unique Tax Return.
Contact Persons:
Mitel Spătaru - Tax Partner - mitel.spataru@fin-expert.ro
Elena Gogoneață - Tax Manager - elena.gogoneata@fin-expert.ro
Cristina Ciubotariu - Senior Tax Consultant - cristina.ciubotariu@fin-expert.ro
