Romania Now Requires All Companies to Hold a Local Bank Account
Romania has introduced a significant new compliance obligation for all registered companies under Law No. 239/2025, signed and published in the Official Gazette on 15 December 2025, and effective from 18 December 2025. The law requires every Romanian legal entity — whether newly incorporated or already operating — to hold at least one active payment […]
Romania Overhauls VAT System: Standard Rate Rises to 21%, Reduced Rates Unified at 11%
Romania implemented a sweeping overhaul of its Value Added Tax (TVA) system on 1 August 2025, under Law No. 141/2025 signed by President Nicuşor Dan. The reform represents the first general VAT rate increase in Romania since 2016 and introduces the most significant simplification of the country’s VAT structure in years. The key changes […]