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ICI Bucharest

GEO 32/2016, a new tax facility for applied research and development and / or experimental development

GEO no. 32/2016 for completing Law no. 227/2015 regarding the Fiscal Code and the regulation of some financial-fiscal measures, adopted by the Romanian Government on June 28, 2016, published in OJ no. 0488 of 30 June 2016.

Taking into account the necessity of granting favourable tax treatment of wage income and assimilation of wages obtained by individuals working in the field of research and development, in order to attract, maintain and develop in Romania the highly qualified human resource for carrying out the research-development activity and/or technological development as well as strengthening the R&D system in order to increase the Romanian competitiveness.

Taking into account that the non-adoption as a matter of urgency of the regulatory measures referred to in the present normative act would lead to the insufficient stimulation of the research-development field and to the incapacity to stimulate other economic sectors as a result of the lack of encouragement of individuals to carry out research, applied development and/or technological development.

For more details, go to the Original article.