Tax Flash No. 1/2017

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Fiscal amendments applicable from January 1st 2017

Among the main amendments of the Fiscal Code that entered into force on 1st of January 2017 we note the following:

  • The computation base of the health insurance contribution (for each type of income) is capped at 5 times the average gross salary
  • The health insurance contribution applies to revenues from intellectual property rights and income from investment, regardless of whether the beneficiary also derives other types of income
  • The standard VAT rate is reduced to 19%
  • The so called “over-excise” applicable to energy products is eliminated, the level of excises applicable for such products being thus reduced
  • The tax on construction is eliminated

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