Romania has published Emergency Ordinance No. 19 of 29 March 2019 in the Official Gazette, which amends the new financial assets tax on credit institutions that was introduced 1 January 2019. Key points are summarized as follows:
- The rates based on the Romanian Interbank Offer Rate (ROBOR) are replaced with fixed rates of:
- 0.2% for credit institutions with a market share below 1%; and
- 0.4% for those with a market share equal to or above 1%;
- The tax base is narrowed with the exclusion of t…