Law no. 296/2023 regarding some fiscal-budgetary measures to ensure Romania’s long-term financial sustainability entered into force. Thus, a series of changes regarding the revenues in the fields of IT, construction and agri-food will be applied starting with November, and from January 1, 2024, the taxation with health contribution of meal vouchers and holiday vouchers will be introduced. 

The normative act contains amendments to the Fiscal Code, applicable as follows:

A) Starting with the income of November 2023:

i) IT field

The tax exemption – will be applied to the place where the basic function is located, for monthly gross incomes of up to 10,000 lei inclusive, obtained from salaries and assimilated to the salaries made by the natural person.

The part of the gross monthly income that exceeds 10,000 lei does not benefit from tax benefits.

Pension contribution – was reduced by the percentage of 3.75% (Pillar II – Attention: from January 1, this percentage will increase to 4.75%).

The person can choose to contribute with the full share of 25%. The option is submitted in writing, to the employer, withholding the related contribution according to the legal provisions, starting with the income of the month following the one in which the option was registered (for example, in order for the option to be taken into account in November, it must be expressed in October).

The fiscal facilities will apply until the end of 2028.

ii) Construction & agri-food fields

The tax exemption is applied to the place where the basic function is located, for gross monthly income from wages and salaries up to and including 10,000 lei, made by a natural person on the basis of an individual employment contract, full-time or part-time, as the case.

The part of the monthly gross income that exceeds 10,000 lei does not benefit from tax facilities.

Pension contribution – is currently reduced by the percentage of 3.75% (Pillar II – Attention: from January 1, this percentage will increase to 4.75%).

The person can choose to contribute with the full share of 25%. The option is submitted in writing, to the employer, who retains the related contribution according to the legal provisions, starting with the income of the month following the one in which the option was registered (for example, in order for the option to be taken into account in November, it must be expressed in October).

Health contribution – there is no more exemption from paying this contribution at the rate of 10%.

B) Starting with January 1, 2024:

Health contribution (10%) will be charged over of meal vouchers and holiday vouchers granted by employers.