The 5 fiscal thresholds available in Romania, actualized for 2019

The limit for micro-enterprises – incomes below EUR 1,000,000; the exchange rate for determining the equivalent in RON is the one applicable at the end of the financial year in which the revenues have been documented – at 31.12.2018 the exchange rate is 4.6581 therefore the cap is at 4.658.100 RON.

The threshold for registration as VAT payer – turnover: EUR 88,500. More specifically, the taxable person established in Romania whose annual turnover, declared or realized, is lower than the EUR 88,500 limit may apply the VAT exemption (special exemption regime). The equivalent in RON is set at the exchange rate communicated by the National Bank of Romania at the date of EU membership, and rounded up to the next thousand, or 300,000 RON.

Transactions not considered taxable in Romania – intra-Community acquisitions of goods which fulfill, among other things, the condition that the total value of these does not exceed during the current calendar year or have not exceeded during the previous calendar year the limit of EUR 10,000. The equivalent in RON is set at the exchange rate communicated by the National Bank of Romania at the date of EU membership, and rounded up to the next thousand, or 34,000 RON.

The limit for shifting from quarterly VAT to monthly VAT – is a turnover of EUR 100,000 (the RON equivalent is determined on the basis of the exchange rate communicated by the National Bank of Romania valid for 31 December 2018 – 4,6581 respectively). Thus, the cap for 2019 is 465,810 RON.

Self-employed persons for whom the net income is determined on the basis of caped income standards, and which in the previous fiscal year have registered an annual gross income higher than the equivalent in RON of EUR 100,000, starting with the following fiscal year, have the obligation to determine the annual net income in real system (the exchange rate used to determine the RON equivalent of EUR 100,000 is the annual average exchange rate communicated by the National Bank of Romania at the end of the fiscal year. For 2018 – at the publication date of this new limits the average was not yet published).

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