The fiscal guidelines for taxpayers who obtain income from prizes and gambling has been published on the ANAF website
The Ministry of Finance and ANAF support individual taxpayers who obtain income from prizes and gambling both in Romania and abroad, and who are required to declare income and pay taxes to the general consolidated budget by publishing the Fiscal guidelines for such taxpayers.
Income from prizes means income from competitions and the promotion of products/services as a result of commercial practices. This category includes income in cash and/or in kind, such as:
a) prizes of any kind awarded to people of culture, science and art at galas, symposia, festivals, national or international competitions, competitions by trades or professions;
b) cash and/or in-kind prizes awarded to athletes, coaches, technicians and other specialists provided for in the relevant legislation, for the results obtained at domestic and international sports competitions.
Gambling income includes all amounts received, goods and services received as a result of participating in gambling, regardless of the name of the income or the form in which it is granted, including jack-pots.
The obligation to calculate, withhold and pay the tax rests with the organizers/payers of income. The tax calculated and withheld at the time of payment is the final tax for which the single return is not filed. No social contributions are due for prizes and gambling.
Insurance market ended 2020 with 5% growth (preliminary data)
According to the ASF press release, the Romanian insurance market reached, in 2020, a volume of gross written premiums of 11.5 billion lei, increasing by 5% compared to the previous year.
Last year, in the general insurance segment, the value of gross written premiums reached 9.28 billion lei, increasing by 6% compared to 2019. At the same time, gross written premiums related to life insurance decreased slightly, by 2%, reaching the value of 2.22 billion lei.
In 2020, the RCA (civil liability) market reached the value of about 3.97 billion lei, 5% more than the previous year, while in class A3 – CASCO the gross written premiums reached 2.41 billion lei, increasing by 4% compared to 2019.
Also, last year, the health insurance market reached the value of 451.45 million lei, which represents an increase of 18% compared to the previous year. The insurance of guarantees also had a sustained increase (68%), reaching a volume of gross written premiums of 464.52 million lei.
New EU Roaming Regulation
To ensure that citizens can continue to enjoy roaming without additional charges when travelling in the EU, the Commission proposed today a new Roaming Regulation. At a time when non-essential travel is discouraged, this is an important action in preparing a brighter future. The new regulation will prolong the current rules that are due to expire in 2022, for another 10 years. It will also ensure better roaming services for travellers.
The new rules will also secure efficient access to emergency services, including improving awareness about alternative means for people with disabilities, as well as increase consumer awareness on possible fees from using value-added services while roaming.
Furthermore, the new rules will ensure that roaming without charges and the enhanced benefits for consumers is sustainable for operators. The rules envisage further reductions in wholesale roaming prices – the prices operators charge each other for using their network when their customers travel abroad. Inter-operator price caps are set at a level that allows operators to recover the cost of providing roaming services. At the same time, it preserves incentives to invest in networks and avoid distortion of domestic competition in the markets of the visited countries.
- Fiscal guidelines on fiscal residence for individuals – updated on February 24, 2021
- Fiscal guidelines for individual taxpayers who earn income from agricultural activities, forestry and fish farming – published on February 9, 2021
- Fiscal guidelines of taxpayers who derive income from liberal professions – updated on February 5, 2021
- Fiscal guidelines for taxpayers who have the obligation to declare their income from abroad – updated on February 5, 2021