Finance Minister: Tax on dividends of non-residents down to 10 pct

The tax on dividends will be a flat 10 pct for both residents and non-residents and the measure will only have a bearable impact on the budget, a reasonable several million euro, Minister of Economy and Finance Varujan Vosganian told a private television station on May 19.
This measure thus continues the fiscal relaxation process, said the Minister.
Two weeks ago the European Commission sent letters of notification (the first stage of the infringement process) to Romania and Bulgaria on the norms under which the two states charge a higher tax on dividends paid abroad than inside the country.

The letter of notification addressed to Romania refers to the taxation of dividends paid to companies based in other EU states or EES/AELS members (Iceland, Norway and Liechtenstein).
Romanian shareholders with less than 15 pct of the stake pay a 10 pct tax on dividends, retained at source. The percentage is 16 pct for non-resident shareholders, but the charge is less for shareholders from countries that have bilateral tax agreements.
For shareholders with 15 pct of the stake, inland dividends are tax exempt, but Romania charges a 10 pct end tax retained at source if the companies collecting dividends are seated in Norway and 16 pct if dividends are due to companies from other SEE/AELS states.

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