Tax Flash No. 1/2017
Fiscal amendments applicable from January 1st 2017
Among the main amendments of the Fiscal Code that entered into force on 1st of January 2017 we note the following:
- The computation base of the health insurance contribution (for each type of income) is capped at 5 times the average gross salary
- The health insurance contribution applies to revenues from intellectual property rights and income from investment, regardless of whether the beneficiary also derives other types of income
- The standard VAT rate is reduced to 19%
- The so called “over-excise” applicable to energy products is eliminated, the level of excises applicable for such products being thus reduced
- The tax on construction is eliminated
