Business

Tax authorities in Romania to announce enforcement decisions by email

Romania’s tax authority ANAF can now communicate enforcement decisions to credit institutions via electronic means, ANAF announced on Friday. Enforcement decisions can now be communicated more rapidly. This will help remove situations in which people have their bank accounts frozen even after they paid their debts to the state. By implementing this system, the costs

Romanian power producer Hidroelectrica records 26% profit increase

Romanian power producer Hidroelectrica, one of the most profitable state-owned companies, recorded a gross profit of EUR 162.8 million in the first five months of this year, up 26% compared to the same period last year. The turnover amounted to EUR 655.8 million during this period, up 11% year-on-year, reports local News.ro. The company’s electricity

New tax facilities for IT companies in Romania starting July 1

IT companies, which are not startups, will be able to benefit from tax facilities starting July 1 this year, even if they don’t deliver a final software production. However, they need to have revenues of EUR 10,000 per programmer per year, said the communications minister Augustin Jianu on Friday, reports local Capital.ro. Software producers have

Expectations on Romania’s economy improve in May

The macroeconomic confidence indicator compiled by CFA Romania increased in May, reaching 66.6 points, up 5.8 points over the previous month. The indicator has a component that evaluates current economic conditions and one that looks into the expectations about the economy. The indicator that looks into the current economic conditions went up by 7.9 points

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