The Romanian government recently set a new filing deadline for Romanian annual tax return which individuals are required to submit this year. Thus, the good news is that the authorities decided to extend the term, setting a new filing deadline: May 25, 2020.

According to provisions of the Romanian Tax Code (Law no. 224/2015), the annual deadline for filing the tax return (in Rom: “declarația unică”) is 15 March of each following year. But for this year, the government considered appropriate to extend the term from 15 March 2020 to 25 May 2020. Thus, the extension was decided through an Ordinance published on Friday, January 31 (GEO 6/2020).

This means that any individual taxpayer can fulfil the obligation to declare his/her personal income (other than salary income) derived during 2019 until the new term decided by the government – May 25, 2020.

Establishing a new deadline for Romanian annual tax filing obligation was really needed by taxpayers. March 15 was a much too tight deadline, and this caused dissatisfaction last year among those who had an annual tax filing obligation. Therefore, the extension measure is really welcome in this context.

For whom is the filing deadline for Romanian annual tax return applicable?

The filing deadline of 25 May applies to all individuals who have the obligation to declare taxable income generated during 2019. Also, it applies to individuals who estimate that will derive taxable income from Romanian sources during the current year (2020). This obligation does NOT apply to salary income, for which the declaration must be done on a monthly basis.

As a refresher, here are some types of income that must be declared through the annual tax return:

  • income from independent activities (self-employment) carried out by individuals
  • income from the rental of goods (renting of real estate, land, etc.)
  • income from the transfer of securities (sales of shares, bonds or any kind of financial instruments)
  • dividend or interest income (for health insurance payment, if applicable)
  • income from transactions with cryptocurrency – e.g. Bitcoin, Ethereum, Rippple, etc.
  • income from the assignment of receivables (transfer of debt)
  • or any of the types of income listed above which is obtained from abroad.

New filing deadline applies for form 230 as well

Also, given the new deadline for Romanian annual tax return, the deadline for filing form 230 has been extended as well. This form can be submitted for the purpose of redirecting 3.5% of the income tax amount due to non-profit entities, religious entities or for granting private scholarships.

The redirection can be done by individuals who generate income from salaries or income from pensions. For the form 230 the same deadline was set: May 25, 2020.

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