Law 296/2023 on some fiscal-budgetary measures to ensure Romania’s long-term financial sustainability also introduced an additional tax for credit institutions – Romanian legal entities and Romanian branches of credit institutions – legal entities.
Thus, credit institutions – Romanian legal entities and the Romanian branches of credit institutions – foreign legal entities owe, in addition to corporate income tax, a turnover tax calculated by applying the following tax rates to the turnover:
a) 2%, for the period from 1 January 2024 to 31 December 2025 inclusive;
b) 1%, as from 1 January 2026.
Turnover includes:
a) interest income;
b) dividend income;
c) income from fees and commissions;
d) gains (losses) on derecognition of financial assets and liabilities not measured at fair value through profit or loss, net;
e) gains or losses on financial assets and liabilities held for trading, net;
f) gains or losses on non-trading financial assets that are required to be measured at fair value through profit or loss, net;
g) gains or losses on financial assets and liabilities designated as at fair value through profit or loss, net;
h) gains or losses on hedge accounting, net;
i) exchange differences (gain or loss), net;
j) gains or losses on derecognition of non-financial assets, net;
k) other operating income.