In the Official Gazette with the number 1109 of 17 November 2022, Law no.309 of 16 November 2022 was published to amend Law no.227/2015 on the Tax Code.
Rights received in accordance with the provisions of the Law no.411/2004 on privately administered pension funds, republished, as amended and supplemented, the Law no.204/2006 on voluntary pensions, as amended and supplemented, and the Law no.1/2020 on occupational pensions, as amended and supplemented, represent pension income.
The monthly taxable pension income is determined by deducting from the pension income the non-taxable monthly amount of 2,000 lei and, where applicable, the health insurance contribution due, according to the provisions of Title V – Mandatory social contributions.
For the amounts received as a one-off payment by the participants in privately administered pension funds and their legal heirs, in accordance with the provisions of Law no. 411/2004, republished, with subsequent amendments and additions, the taxable income shall consist of the amounts exceeding the net contributions of the participants to which each pension fund grants a single non-taxable income ceiling established in accordance with the provisions of paragraph (1).
For the amounts received as deferred payments in instalments by participants in privately administered pension funds and their legal heirs, in accordance with the provisions of Law no. 411/2004, republished, as amended and supplemented, the taxable income is made up of the amounts exceeding the net contributions of the participants, to which the ceiling of non-taxable income established in accordance with the provisions of paragraph (1) is applied for each monthly instalment from each pension fund.
For the amounts received as a one-off payment by the participants of the voluntary pension funds and/or occupational pension funds and their legal heirs, in accordance with the provisions of the Law no. 204/2006, as amended and supplemented, and the Law no. 1/2020, as supplemented, the taxable income shall consist of the amounts exceeding the net contributions of the participants, to which each pension fund shall apply a single non-taxable income ceiling established in accordance with the provisions of paragraph (1).