iCalculator™ RO: Romania Tax Calculators

Welcome to iCalculator™ RO, your comprehensive suite of free tax calculators for Romania. iCalculator™ has provided free tax calculators for Romania since 2019. Since those early days we have extended our resources for Romania to includes Tax Guides, Tax Videos and enhanced the tax calculators and supporting tax information. The Romania Tax Calculator and salary calculators within our Romania tax section are based on the latest tax rates published by the Tax Administration in Romania. In this dedicated Tax Portal for Romania you can access:

Romania Tax Calculator 2024/25

The Romania Tax Calculator below is for the 2024 tax year, the calculator allows you to calculate income tax and payroll taxes and deductions in Romania. This includes calculations for

1. Employees in Romania to calculate their annual salary after tax.
2. Employers to calculate their cost of employment for their employees in Romania.

Taxation in Romania: Types and Compliance Overview

Romania's tax system encompasses various types of taxes, each with its own set of compliance requirements. The taxation landscape in Romania is structured to accommodate both individual taxpayers and businesses, ensuring a balanced approach towards fiscal responsibilities.

1. Personal Income Tax

Personal Income Tax in Romania is levied on the income of individuals. This includes salaries, income from independent activities, rental income, investment income, and other sources. Taxpayers are required to file annual tax returns, and there may be allowances and deductions available based on specific criteria.

2. Corporate Income Tax

Corporate Income Tax is charged on the profits of companies operating in Romania. The tax applies to both domestic and foreign companies, with the latter taxed on income generated within Romania. Companies are obligated to comply with regular reporting and payment schedules.

3. Value Added Tax (VAT)

Value Added Tax (VAT) is a consumption tax applied to most goods and services in Romania. Businesses are required to register for VAT if their turnover exceeds a certain threshold. VAT compliance includes accurate record-keeping, regular VAT returns, and payments.

4. Social Security Contributions

Social Security Contributions are mandatory payments made by employers and employees to fund social security systems. These contributions cover pensions, health insurance, and unemployment benefits. The rates vary based on the type of employment and income levels.

5. Property Taxes

Property Taxes in Romania are levied on real estate properties, including land and buildings. The tax rates and assessments are determined by local authorities and vary based on the location and characteristics of the property.

6. Excise Duties

Excise Duties are special taxes applied to specific goods such as alcohol, tobacco, and energy products. These duties are imposed to regulate the consumption of these goods and contribute to the state revenue.

7. Environmental Taxes

Environmental Taxes are designed to promote environmental sustainability by taxing activities that have adverse environmental impacts. These taxes include charges on pollution, waste management, and resource usage.

8. Compliance and Reporting

Tax compliance in Romania involves adhering to filing deadlines, accurate reporting of income and transactions, and timely payments of taxes due. Non-compliance can result in penalties, interest charges, and legal consequences.

In conclusion, understanding the various types of taxes and compliance requirements in Romania is crucial for individuals and businesses to ensure adherence to fiscal laws and regulations. iCalculator™ RO provides tools and resources to assist in navigating the complexities of Romanian taxation.