Smart Update: new deductions from the calculation of the monthly income tax

smart update legislativ

Starting with 24 July 2017, the new fiscal legislation regarding the calculation of the income tax but also new declarative obligations shall enter into force.

Therefore, the voluntary health insurance premiums, as well as the medical services provided as a subscription, within the limit of EUR 400, equivalent in LEI, per year will be deducted from the calculation of the monthly income tax.

Also, the entities that pay pension income, other than the National House of Public Pensions, and its territorial and sectoral branches, are required to submit every month, until the 25th of the month following the one for which the income is paid, the Declaration on payment obligations of social contributions, income tax and nominal record of insured persons for each income beneficiary.

Download Smart Update July – no. 1 regarding the new legal provisions mentioned above and share them with your team:

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