Starting with July 1st, lunch vouchers are subject to taxes and royalties and taxes on gambling increasePublish date: 21-06-2010
Lunch, gift, nursery and holiday vouchers will be taxed starting with July 1st, when the new amendments to the Tax Code become effective, by means of which the Government estimates that it will get an extra income of 45.9 million lei (0.01% of GDP) this year. Moreover, copyrights and gambling are subject to additional taxes and some facilities that professional athletes benefited from will be canceled. However, those holding more housing will be required to pay a "solidarity tax".
Not only lunch, gift, nursery and holiday vouchers, but compensation payments as well will be taxed at 16% starting with July related rights, as required by the Emergency Ordinance amending the Fiscal Code.
Also from July 1st, the share of deductible expenses calculated on intellectual property rights will be reduced to 20% of the gross income, compared to 40% today. Employees receiving royalties will not immediately feel the additional charge, this will only happen when the tax statement is submitted with the Tax Administration. In case of income derived from creating monumental art works, the share of deductible expenses will be reduced by 25% from the gross income, compared to 50% as it is today.
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