Tax Flash no. 131
Tax Flash no. 131
In the Official Gazette, Part I no. 147 of 25 February 2026, was published the Emergency Ordinance no. 8/2026 which establishes measures for economic recovery, increasing productive investment and competitiveness, and amends and supplements certain legislative acts in the fiscal and budgetary field.
We present below the most significant tax changes introduced starting with fiscal year 2026:
I. CORPORATE INCOME TAX
1. Tax Credit for Research and Development (R&D) Expenses
A new article is introduced, Article 201, "Tax Credit for Research and Development Expenses".
Thus, taxpayers are offered the option of a tax credit equal to 10% of eligible R&D expenses, an amount that is deducted annually from the corporate income tax or from the minimum turnover tax owed. In case the value of the tax credit exceeds the amount due in the respective year, the unused difference may be used in the following 4 consecutive years for a refund or to offset other tax liabilities, with certain exceptions; the procedure for offsetting and refunding is to be established by NAFA Order.
This mechanism represents an alternative to the current tax incentive regime for R&D provided for in Article 20 of the Fiscal Code (which remains valid in parallel), but the two cannot be used simultaneously.
Income representing the difference in tax credits for R&D expenses that are offset or refunded will be considered non-taxable income for the purpose of calculating corporate income tax.
2. Tax incentive for taxpayers listing on a stock exchange
A tax incentive is introduced for taxpayers who are in the process of listing or maintaining the trading of shares on a regulated market and/or within a multilateral trading facility, both in Romania and in countries with which Romania has concluded a legal instrument for the exchange of information, consisting of an additional deduction in calculating taxable income of 50% of the expenses related to the admission to trading process, starting from the year of admission, as well as the expenses for maintaining trading status recorded in the first fiscal year following admission. Eligible expenses will be established by Order of the Minister of Finance.
3. Super-accelerated depreciation for new assets
For the year 2026, a super-accelerated depreciation regime is introduced for new assets from:
The super-accelerated depreciation regime applies as follows:
As a general rule, taxpayers who apply the tax exemption for reinvested profit cannot opt for accelerated or super-accelerated depreciation for those assets. As an exception, to the extent that the exemption applies in 2026 (the modified tax year beginning in 2026) for assets in subgroup 2.1, taxpayers may opt for accelerated depreciation.
4. Minimum threshold for recognizing fixed assets
The threshold for recognizing an asset as a depreciable fixed asset is increased to 5,000 lei (from 2,500 lei). The threshold will be updated annually based on the inflation index and established by Government Decision.
5. Reserves for reinvested profit
Taxpayers who record reserves established as a result of applying the reinvested profit incentive starting with the 2026 tax year (the modified tax year beginning in 2026) may not use these amounts to increase share capital, distribute dividends, or cover losses for a period of 5 years beginning with the year following the one for which the reserves were established. If this condition is not met, the amounts used become fully taxable when calculating corporate income tax as items similar to income.
After the 5-year period expires, the following tax treatment will apply:
6. Amendment to the mechanism for calculating the advance payment for the first quarter
For taxpayers using the annual tax calculation system with fixed advance payments, an exception is introduced for the first quarter; specifically, the advance payment for the first quarter will be calculated by applying the 16% corporate income tax rate to the accounting profit of the first quarter.
7.Amendment to the filing deadline for the annual income tax return – Form 101
Starting with 2026, the deadline for the annual corporate income tax return is set for June 25 of the following year, specifically by the 25th day of the sixth month following the close of the modified fiscal year.
II. INCOME TAX FOR MICRO-ENTERPRISES
The main changes are the following:
Taxpayers who, during the period between 1st January 2026 and the effective date of the emergency ordinance, notified the tax authorities of their enrollment in the microenterprise income tax system or their withdrawal from it, shall file, as applicable, a new declaration of mentions for inclusion in the microenterprise income tax system, within the deadline of 31st March 2026.
III. 3% BONIFICATION
As in 2024, a bonification is granted to taxpayers liable for corporate income tax or microenterprise income tax, in the amount of 3% of the tax due for the 2025 tax year.
The incentive is granted automatically by NAFA after the filing deadline for the annual corporate income tax return / micro-enterprise income tax return for the fourth quarter of 2025, through the issuance of a decision, provided that the taxpayer meets the following conditions:
The amounts subject to the bonification are not refunded but are used to offset the taxpayer’s tax liabilities in accordance with the provisions of Article 167 of the Tax Procedure Code.
Income from the bonification granted constitutes non-taxable income for both corporate income tax and microenterprise income tax purposes.
IV. INCOME TAX AND MANDATORY SOCIAL SECURITY CONTRIBUTIONS
The main changes are as follows:
Deductions are made on the basis of a supporting document that must include at least the following elements: the identification data of the individual, the date of settlement of the transaction, the shares, bonds and/or participation titles issued by collective investment undertakings in tradable securities (Exchange Traded Fund - ETF), defined according to the relevant legislation, acquired and their value, as well as the fact that the issuer of the supporting document is an entity provided for in art. 96^1 paragraph. (1).
The bonification applies only to the income tax established through the Single Declaration.
V. VAT
The following changes regarding the VAT collection regime/VAT cash accounting scheme take place:
We present below the most significant tax changes introduced starting with fiscal year 2026:
I. CORPORATE INCOME TAX
1. Tax Credit for Research and Development (R&D) Expenses
A new article is introduced, Article 201, "Tax Credit for Research and Development Expenses".
Thus, taxpayers are offered the option of a tax credit equal to 10% of eligible R&D expenses, an amount that is deducted annually from the corporate income tax or from the minimum turnover tax owed. In case the value of the tax credit exceeds the amount due in the respective year, the unused difference may be used in the following 4 consecutive years for a refund or to offset other tax liabilities, with certain exceptions; the procedure for offsetting and refunding is to be established by NAFA Order.
This mechanism represents an alternative to the current tax incentive regime for R&D provided for in Article 20 of the Fiscal Code (which remains valid in parallel), but the two cannot be used simultaneously.
Income representing the difference in tax credits for R&D expenses that are offset or refunded will be considered non-taxable income for the purpose of calculating corporate income tax.
2. Tax incentive for taxpayers listing on a stock exchange
A tax incentive is introduced for taxpayers who are in the process of listing or maintaining the trading of shares on a regulated market and/or within a multilateral trading facility, both in Romania and in countries with which Romania has concluded a legal instrument for the exchange of information, consisting of an additional deduction in calculating taxable income of 50% of the expenses related to the admission to trading process, starting from the year of admission, as well as the expenses for maintaining trading status recorded in the first fiscal year following admission. Eligible expenses will be established by Order of the Minister of Finance.
3. Super-accelerated depreciation for new assets
For the year 2026, a super-accelerated depreciation regime is introduced for new assets from:
- subgroup 2.1 – technological equipment (machinery, equipment, installations),
- subgroup 2.4 – livestock and plantations.
The super-accelerated depreciation regime applies as follows:
- in the first year: depreciation may be up to 65% of the tax value,
- in subsequent years: depreciation is calculated on a straight-line basis, based on the remaining value and the remaining useful life.
As a general rule, taxpayers who apply the tax exemption for reinvested profit cannot opt for accelerated or super-accelerated depreciation for those assets. As an exception, to the extent that the exemption applies in 2026 (the modified tax year beginning in 2026) for assets in subgroup 2.1, taxpayers may opt for accelerated depreciation.
4. Minimum threshold for recognizing fixed assets
The threshold for recognizing an asset as a depreciable fixed asset is increased to 5,000 lei (from 2,500 lei). The threshold will be updated annually based on the inflation index and established by Government Decision.
5. Reserves for reinvested profit
Taxpayers who record reserves established as a result of applying the reinvested profit incentive starting with the 2026 tax year (the modified tax year beginning in 2026) may not use these amounts to increase share capital, distribute dividends, or cover losses for a period of 5 years beginning with the year following the one for which the reserves were established. If this condition is not met, the amounts used become fully taxable when calculating corporate income tax as items similar to income.
After the 5-year period expires, the following tax treatment will apply:
- the use of reserves for distribution is taxed at 50% as items similar to income;
- the use of reserves to increase capital or cover losses does not result in taxation of the reserves.
6. Amendment to the mechanism for calculating the advance payment for the first quarter
For taxpayers using the annual tax calculation system with fixed advance payments, an exception is introduced for the first quarter; specifically, the advance payment for the first quarter will be calculated by applying the 16% corporate income tax rate to the accounting profit of the first quarter.
7.Amendment to the filing deadline for the annual income tax return – Form 101
Starting with 2026, the deadline for the annual corporate income tax return is set for June 25 of the following year, specifically by the 25th day of the sixth month following the close of the modified fiscal year.
II. INCOME TAX FOR MICRO-ENTERPRISES
The main changes are the following:
- Regarding the 100,000 euro threshold for classification as a micro-enterprise:
- It is clarified that the threshold is determined based on revenue constituting turnover in accordance with accounting regulations;
- Revenue from the sale of fixed assets/land is included in the threshold calculation only if more than one transaction is conducted in a year.
- A return to this system is permitted if the legal conditions are met, regardless of the taxation system applied in the past;
- For newly established legal entities, the option to apply the micro-enterprise regime is conditional on meeting the criteria regarding the number of employees within 90 days of the registration date (compared to 30 days previously). If this condition is not met, the taxpayer will switch to corporate income tax starting with the quarter following the one in which the 90-day period expires;
- The condition of having at least 1 employee is also considered met in the following situations:
- Suspended employment contract, if the duration is < 30 days and the situation occurs for the first time in the respective fiscal year,
- Medical leave, if the total does not exceed 30 days/year.
Taxpayers who, during the period between 1st January 2026 and the effective date of the emergency ordinance, notified the tax authorities of their enrollment in the microenterprise income tax system or their withdrawal from it, shall file, as applicable, a new declaration of mentions for inclusion in the microenterprise income tax system, within the deadline of 31st March 2026.
III. 3% BONIFICATION
As in 2024, a bonification is granted to taxpayers liable for corporate income tax or microenterprise income tax, in the amount of 3% of the tax due for the 2025 tax year.
The incentive is granted automatically by NAFA after the filing deadline for the annual corporate income tax return / micro-enterprise income tax return for the fourth quarter of 2025, through the issuance of a decision, provided that the taxpayer meets the following conditions:
- has filed all returns in accordance with the tax filing schedule;
- the corporate income tax / micro-enterprise income tax for the year 2025 has been paid in full and on time;
- has no other outstanding tax or budgetary obligations as of the legal deadline for filing the returns declaring the annual corporate income tax for the year 2025 or the micro-enterprise income tax for the fourth quarter of 2025.
The amounts subject to the bonification are not refunded but are used to offset the taxpayer’s tax liabilities in accordance with the provisions of Article 167 of the Tax Procedure Code.
Income from the bonification granted constitutes non-taxable income for both corporate income tax and microenterprise income tax purposes.
IV. INCOME TAX AND MANDATORY SOCIAL SECURITY CONTRIBUTIONS
The main changes are as follows:
- The tax treatment applicable to contributions to occupational and voluntary pension funds is extended to pension funds/schemes managed by entities authorised in a state adhering to the liberalisation codes of the Organisation for Economic Co-operation and Development, as well as to pan-European personal pension products according to Regulation (EU) 2019/1.238 of the European Parliament and of the Council of 20 June 2019 on a pan-European personal pension product (PEPP).
- Starting with March 2026, employees and self-employed individuals (PFA/PFI) benefit from a new tax incentive if they acquire shares, bonds and/or participation titles issued by undertakings for collective investment in transferable securities (Exchange Traded Fund - ETF) defined according to the relevant legislation, through the entities provided for in art. 96^1, para. (1) of the Fiscal Code (n.r. Romanian tax resident intermediaries or non-residents who have a permanent establishment in Romania that has the quality of intermediary). The incentive is determined as follows:
- In the case of PFA/PFI, the acquisition of shares, bonds or ETFs can be deducted when calculating the net income, within the limit of 400 euros/year;
- In the case of employees, the acquisition of shares, bonds or ETFs can be deducted when calculating the tax on income from salaries, within the limit of 400 euros/year. The amounts are deducted from the income of the month in which the transaction was settled, based on the supporting documents issued by the intermediary, regardless of their number.
Deductions are made on the basis of a supporting document that must include at least the following elements: the identification data of the individual, the date of settlement of the transaction, the shares, bonds and/or participation titles issued by collective investment undertakings in tradable securities (Exchange Traded Fund - ETF), defined according to the relevant legislation, acquired and their value, as well as the fact that the issuer of the supporting document is an entity provided for in art. 96^1 paragraph. (1).
- Contrary to the provisions of the Fiscal Code, according to which income tax bonifications for individuals can be introduced only by the Law on the State Social Insurance Budget, GEO no. 8/2026 establishes a 3% bonification for the early declaration and payment of tax obligations for the year 2025. The bonification is set at 3% of the income tax due and applies only if the taxpayer:
- Completes and submits the Single Declaration (either electronically or in paper format) by April 15, 2026, and
- Pays by the same deadline (April 15, 2026) both the income tax subject to the bonification and the applicable social security contributions for the year 2025.
The bonification applies only to the income tax established through the Single Declaration.
V. VAT
The following changes regarding the VAT collection regime/VAT cash accounting scheme take place:
- Increase in eligibility ceilings:
- 5,000,000 lei for the period March 1 – December 31, 2026;
- 5,500,000 lei starting with January 1, 2027.
- Conditions of application and option:
- Taxable persons based in Romania, whose turnover in the previous year did not exceed the new ceilings, can opt for this system;
- The system applies from the first day of the fiscal period following the one in which the option was exercised, if at that time the ceiling of the current year has not been exceeded. Companies newly registered for VAT purposes can opt for the system from the date of registration;
- The person who has opted for the system must apply it at least until the end of that calendar year, unless he exceeds the ceiling.
- Notification procedures and the VAT Register:
- The notification must be submitted by the 20th of the month prior to the start of the application of the system;
- If the turnover did not exceed the ceiling in the previous year, it is considered that the person has tacitly opted to continue the system, without the need for a new notification;
- If the ceiling is exceeded during the year, the system is applied only until the end of the fiscal period following the one in which the exceedance occurred;
- Voluntary renunciation can be made at any time during the year (except for the first year of application), by notification submitted between the 1st and 20th of the month.
- Transitional provisions (January - February 2026):
- Persons who exceed the old ceiling of RON 4,500,000 in January 2026, but remain below RON 5,000,000, will not be deregistered from the Register of persons who apply VAT on collection;
- Persons who exceed RON 4,500,000 in February 2026, but remain below RON 5,000,000, are not required to submit the exceeding notification and will not be deregistered.