Employees doing R&D in Romania get tax exemption on wages starting today

Starting from today, August 1, two fiscal changes come into force – the tax exemption on wages of researchers and the VAT of nine percent for some agricultural products.

„We decided that starting with the salaries from August for engineers and researchers who work in technological development centers, such as those from Titu, but also other companies that have this kind of centers, to eliminate the taxes for salaries, which means an increase of the researchers’ incomes, ” said PM Dacian Ciolos.

“We want to attract young people from this field, but also to reduce as much as possible the qualified workforce migration. It’s not about a very big growth, but it’s a sign for the state and Government that this field is important and we’ll still search other facilities to stimulate this sector, “ said Ciolos at the end of June.

The lower VAT rate will be applied for fertilizers, pesticides, seeds and other agricultural products for insemination or plantation.

Moreover, the 9 percent VAT is available for some services, such as ploughing, seeding, planting, cropping, fertilizing and racking.

Article source: www.business-review.eu