{"id":14225,"date":"2025-07-21T13:06:32","date_gmt":"2025-07-21T10:06:32","guid":{"rendered":"https:\/\/cabot-tp.ro\/?p=14225"},"modified":"2025-07-21T13:14:16","modified_gmt":"2025-07-21T10:14:16","slug":"fiscal-changes-2025-budgetary-pressure-and-tax-system-reform","status":"publish","type":"post","link":"https:\/\/cabot-tp.ro\/en\/fiscal-changes-2025-budgetary-pressure-and-tax-system-reform\/","title":{"rendered":"Fiscal changes 2025 \u2013 budgetary pressure and tax system reform"},"content":{"rendered":"<div class=\"wpb-content-wrapper\"><p>[vc_row][vc_column width=&#8221;3\/4&#8243;][vc_custom_heading source=&#8221;post_title&#8221; font_container=&#8221;tag:h2|text_align:left|color:%23111111&#8243; use_theme_fonts=&#8221;yes&#8221; css=&#8221;&#8221; el_class=&#8221;no_stripe&#8221; subtitle=&#8221;21 July 2025&#8243;][vc_column_text]\t\t<div class=\"wpulike wpulike-heart \" ><div class=\"wp_ulike_general_class wp_ulike_is_restricted\"><button type=\"button\"\n\t\t\t\t\taria-label=\"Like Button\"\n\t\t\t\t\tdata-ulike-id=\"14225\"\n\t\t\t\t\tdata-ulike-nonce=\"30b4ee2ea2\"\n\t\t\t\t\tdata-ulike-type=\"post\"\n\t\t\t\t\tdata-ulike-template=\"wpulike-heart\"\n\t\t\t\t\tdata-ulike-display-likers=\"\"\n\t\t\t\t\tdata-ulike-likers-style=\"popover\"\n\t\t\t\t\tclass=\"wp_ulike_btn wp_ulike_put_image wp_post_btn_14225\"><\/button><span class=\"count-box wp_ulike_counter_up\" data-ulike-counter-value=\"0\"><\/span>\t\t\t<\/div><\/div>\n\t[\/vc_column_text][stm_spacing lg_spacing=&#8221;6&#8243; md_spacing=&#8221;6&#8243; sm_spacing=&#8221;6&#8243; xs_spacing=&#8221;6&#8243;][vc_single_image source=&#8221;featured_image&#8221; img_size=&#8221;full&#8221; alignment=&#8221;center&#8221;][stm_spacing lg_spacing=&#8221;30&#8243; md_spacing=&#8221;30&#8243; sm_spacing=&#8221;30&#8243; xs_spacing=&#8221;30&#8243;][vc_column_text css=&#8221;.vc_custom_1753092388792{margin-bottom: 20px !important;}&#8221;]<\/p>\n<p data-start=\"253\" data-end=\"376\">The government launches the harshest fiscal package of the last decade: tax increases, budget cuts, and structural reforms.<\/p>\n<p data-start=\"378\" data-end=\"757\">The government led by Mr. Ilie Bolojan has presented the final version of the most extensive package of fiscal and budgetary measures in recent years. The package targets tax increases, expenditure reductions, caps in the public sector, and structural reforms, with the stated goal of reducing the budget deficit below 5% of GDP and regaining the trust of international partners.<\/p>\n<p data-start=\"759\" data-end=\"1017\">The measures will be implemented gradually, in two major phases, the first on 1 August 2025, and the second on 1 January 2026. Estimates show that these measures will generate a total budgetary impact of approximately RON 145 billion over the next two years.<\/p>\n<p data-start=\"1019\" data-end=\"1039\"><strong data-start=\"1019\" data-end=\"1039\">VAT increases<\/strong><\/p>\n<p data-start=\"1043\" data-end=\"1437\">\u2022 Increase of the standard VAT rate from 19% to 21%, applicable to all supplies of goods and services that are not exempt and do not benefit from a reduced rate: a 2-point increase would align Romania with the EU average but would drive prices and inflation. This change comes into effect on 1 August 2025 and is expected to bring in around RON 3.6 billion in 2025 and RON 11.6 billion in 2026.<\/p>\n<p data-start=\"1440\" data-end=\"1607\">\u2022 Increase of VAT rates from 5% and 9% to 11%, applied to a well-defined list of goods and services of social, economic, or strategic interest. Key categories include:<\/p>\n<p style=\"padding-left: 40px;\" data-start=\"1612\" data-end=\"1939\">\u2022 The delivery of medicines, food, and beverages for human and animal consumption, excluding alcoholic beverages, carbonated drinks, or those with high sugar content (over 10g\/100g), as well as dietary supplements. The state narrows the applicability of the reduced rate to encourage healthier consumption and combat tax abuse.<\/p>\n<p style=\"padding-left: 40px;\" data-start=\"1944\" data-end=\"2137\">\u2022 In agriculture, the 11% VAT will apply to seeds, fertilizers, pesticides, and standard agricultural services, while for utilities, it will apply to water supply, sewage, and irrigation water.<\/p>\n<p style=\"padding-left: 40px;\" data-start=\"2142\" data-end=\"2381\">\u2022 The reduced rate remains for thermal energy delivered during the cold season to households, hospitals, schools, NGOs, and social service providers, but only based on a self-declaration by the beneficiary, adding an extra control element.<\/p>\n<p style=\"padding-left: 40px;\" data-start=\"2386\" data-end=\"2690\">\u2022 Cultural services such as access to museums, castles, or botanical gardens, as well as the delivery of textbooks, books, newspapers, and magazines (excluding those predominantly video, audio, or advertising content) are also subject to 11%, signaling continued fiscal support for culture and education.<\/p>\n<p style=\"padding-left: 40px;\" data-start=\"2695\" data-end=\"2904\">\u2022 In terms of social policy, the government maintains the reduced VAT for the delivery of housing intended for vulnerable persons, such as retirement homes or centers for children and people with disabilities.<\/p>\n<p style=\"padding-left: 40px;\" data-start=\"2909\" data-end=\"3113\">\u2022 The horeca sector remains a beneficiary of the reduced rate, but with the clear exclusion of alcoholic beverages and non-alcoholic beverages under code NC 2202, meaning sugary or carbonated soft drinks.<\/p>\n<p data-start=\"3115\" data-end=\"3161\">This change comes into force on 1 August 2025.<\/p>\n<p data-start=\"3163\" data-end=\"3183\"><strong data-start=\"3163\" data-end=\"3183\">Tax increases<\/strong><\/p>\n<p data-start=\"3187\" data-end=\"3479\">\u2022 Dividend tax: will remain at 10% in 2025, but will increase to 16% starting 1 January 2026.<br data-start=\"3278\" data-end=\"3281\" \/><em data-start=\"3283\" data-end=\"3292\">Impact:<\/em> This measure nearly doubles the tax burden on distributed profit, bringing it close to labor taxation. It reduces the attractiveness of micro-enterprises as a legal business structure.<\/p>\n<p data-start=\"3482\" data-end=\"3605\">\u2022 A flat 10% tax will be applied to gains from transactions in stocks and cryptocurrencies, with no preferential treatment.<\/p>\n<p data-start=\"3608\" data-end=\"3823\">\u2022 Health insurance contribution (CASS) for large pensions \u2013 CASS is introduced for pensions exceeding RON 3,000, with the goal of increasing the number of contributors to the health system from 6 million to 8 million.<\/p>\n<p data-start=\"3825\" data-end=\"3893\"><strong data-start=\"3825\" data-end=\"3893\">Excises and specific taxes \u2013 increased starting 1 August 2025<\/strong><\/p>\n<p data-start=\"3897\" data-end=\"4214\">\u2022 Higher excises: sugar, sugary drinks, alcohol, fuels \u2013 increased by 10%, tobacco.<br data-start=\"3978\" data-end=\"3981\" \/><em data-start=\"3983\" data-end=\"3993\">Comment:<\/em> Direct impact on low-income consumers, for whom these expenses represent a larger share of their monthly budget; negative effects on transport and food industries, where fuel and energy costs directly influence prices.<\/p>\n<p data-start=\"4217\" data-end=\"4427\">\u2022 Gambling tax \u2013 the government changes the taxation regime for income from gambling, introducing a progressive tax system, applied at source, for each payment made to players. The tax is calculated as follows:<\/p>\n<p style=\"padding-left: 40px;\" data-start=\"4432\" data-end=\"4493\">\u2022 for winnings up to RON 10,000 inclusive, a 4% rate applies;<\/p>\n<p style=\"padding-left: 40px;\" data-start=\"4498\" data-end=\"4623\">\u2022 for amounts between RON 10,001 and RON 66,750 inclusive, a tax of RON 400 + 20% of the amount exceeding RON 10,000 applies;<\/p>\n<p style=\"padding-left: 40px;\" data-start=\"4628\" data-end=\"4727\">\u2022 for winnings exceeding RON 66,750, the tax is RON 11,750 + 40% of the amount over this threshold.<\/p>\n<p data-start=\"4729\" data-end=\"5207\">Additionally, for gambling-specific income from casinos, poker clubs, slot machines, or scratch tickets, if they exceed the non-taxable threshold of RON 66,750, the same scale applies, but the amount of RON 11,750 is deducted from the calculated value. This deduction aims to limit the tax burden on very large gambling winnings.<\/p>\n<p data-start=\"4729\" data-end=\"5207\">Comment: Through these changes, the authorities aim to increase revenue collection and impose stricter taxation on substantial gambling incomes.<\/p>\n<p data-start=\"5209\" data-end=\"5267\"><strong data-start=\"5209\" data-end=\"5267\">Massive cuts in bonuses, public spending, subsidies<\/strong><\/p>\n<p data-start=\"5269\" data-end=\"5557\">Starting in 2026, the government proposes a series of firm fiscal consolidation measures targeting public spending reduction through structural measures applied in phases. These are meant to reduce the budget deficit and ensure the medium- and long-term sustainability of public finances.<\/p>\n<p data-start=\"5559\" data-end=\"5907\">Key measures include freezing public sector salaries and pensions, meaning that, in the absence of an express exemption, these will no longer be automatically indexed or increased in line with inflation or other economic indicators. This decision comes as spending on personnel and social assistance has reached historic levels in the state budget.<\/p>\n<p data-start=\"5909\" data-end=\"6165\">A drastic limitation of public sector hiring will also be instituted, through vacancy freezes and stricter control of institutional staffing structures. This measure aims not only to reduce budgetary pressure but also to increase administrative efficiency.<\/p>\n<p data-start=\"6167\" data-end=\"6475\">Another key point is the elimination or capping of unjustified bonuses, which currently generate inequities and distortions in public sector wages. The government will revise the legislative framework regarding these bonuses so that they are granted only where there is a clear and transparent justification.<\/p>\n<p data-start=\"6477\" data-end=\"6707\">A 40% reduction in subsidies allocated to political parties in 2026 compared to the 2024 level represents both a symbolic and practical measure, with a direct impact on how the political class\u2019s fiscal responsibility is perceived.<\/p>\n<p data-start=\"6709\" data-end=\"7086\">This decision responds to growing public pressure on how public money is spent. In recent years, subsidies to parties have increased significantly, without clear correlation to transparency, performance, or political professionalism. Reducing funding sends a signal of austerity and solidarity from the political class amid broader budgetary constraints and structural reforms.<\/p>\n<p data-start=\"7088\" data-end=\"7110\"><strong data-start=\"7088\" data-end=\"7110\">Other measures:<\/strong><\/p>\n<p data-start=\"7114\" data-end=\"7347\">\u2022 Starting 1 August 2025, a support grant of RON 700 for underage mothers returning to school is introduced \u2013 a major step in combating school dropout and supporting the social reintegration of a highly vulnerable population segment;<\/p>\n<p data-start=\"7350\" data-end=\"7592\">\u2022 Starting 1 August 2025, banks and branches of foreign credit institutions in Romania will pay an additional turnover tax, on top of the profit tax. The rate is 2% in the first semester and will increase to 4% in the second half of the year;<\/p>\n<p data-start=\"7595\" data-end=\"8140\">\u2022 The government approved the increase of the road tax (rovinieta) for cars, with new tariffs effective 1 August 2025. The new fees will be: EUR 3.5 for one day, EUR 6 for 10 days, EUR 9.5 for 30 days, EUR 15 for 60 days, and EUR 50 for 12 months. The measure aims to align with European standards and secure necessary funds for road infrastructure maintenance. Starting 1 September 2025, the fine for driving without a valid rovinieta will range between RON 500 and 1,000. Previously purchased rovinietas remain valid for their issued duration;<\/p>\n<p data-start=\"8143\" data-end=\"8552\">\u2022 Starting 1 August 2025, co-insured persons (spouse, parents without income) can become insured in the healthcare system by submitting an income declaration and paying the contribution \u2013 10% of the value of six gross minimum wages (approx. RON 2,430). The contribution is paid in two installments: 25% upon declaration and the remaining 75% by 25 May of the following year. The insurance is valid for one year.<\/p>\n<p data-start=\"8554\" data-end=\"8576\"><strong data-start=\"8554\" data-end=\"8576\">General conclusion<\/strong><\/p>\n<p data-start=\"8578\" data-end=\"9060\">Overall, the fiscal package approved by the Bolojan government represents an unprecedented austerity policy aimed at rapidly rebuilding public finances. The reform combines significant tax hikes \u2013 including increases in VAT, excises, bank, dividend and gambling taxes \u2013 with spending cuts such as freezing salaries and pensions, hiring limits, and bonus eliminations. Subsidies are reduced (40% less for political parties), while social grants (for underage mothers) are introduced.<\/p>\n<p data-start=\"9062\" data-end=\"9297\">The government justifies these decisions as necessary to reach the target deficit below 5% of GDP, avoid credit rating downgrades, and maintain access to EU funds amid strong pressure from the European Commission and financial markets.<\/p>\n<p data-start=\"9299\" data-end=\"9774\">In conclusion, the government\u2019s fiscal strategy is clear and aggressive \u2013 a rapid restructuring of the budget through a mix of revenues and cuts, with the declared goal of recovery and consolidation, albeit at the expense of short-term social comfort and predictability. The success of this policy will critically depend on the authorities&#8217; ability to manage social dialogue, curb inflationary effects, and implement real reforms in expenditure and tax collection efficiency.<\/p>\n<p data-start=\"3728\" data-end=\"3967\"><a href=\"https:\/\/cabot-tp.ro\/en\/contact\/\" target=\"_blank\" rel=\"noopener\">If you have questions or need personalized assistance, the Cabot team is at your service.<\/a><\/p>\n<p>[\/vc_column_text][stm_spacing lg_spacing=&#8221;40&#8243; md_spacing=&#8221;40&#8243; sm_spacing=&#8221;30&#8243; xs_spacing=&#8221;20&#8243;][stm_info_box style=&#8221;style_5&#8243; css=&#8221;.vc_custom_1734468898361{padding-bottom: 90px !important;}&#8221;]<a href=\"https:\/\/cabot-tp.ro\/en\/membri\/laura-birleanu\/\"><img decoding=\"async\" class=\"alignleft wp-image-9282 size-thumbnail\" src=\"https:\/\/cabot-tp.ro\/wp-content\/uploads\/2023\/11\/laura-birleanu-cropped-1-150x150.jpg\" alt=\"\" width=\"150\" height=\"150\" 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