How is crypto taxed in Romania?

When it comes to cryptocurrency taxation in Romania, it is crucial to understand that the regulatory landscape is ever-evolving. The Romanian government has been actively monitoring the crypto space and has taken steps to adapt its tax framework accordingly. One significant move was the introduction of the Global Low Taxation (GloBE) rules/EU Minimum Tax Directive into the country's tax code. This directive aims to establish a minimum level of taxation for large multinational corporations, including those with significant crypto holdings or transactions. As a result, Romania has implemented Income Inclusion Rules (IIR) and Undertaxed Profits Rules (UTPR) that will affect how crypto income is taxed. Specifically, IIR applies to fiscal years beginning on or after December 31, 2023, while UTPR typically applies to fiscal years beginning on or after December 31, 2024. Romania has also introduced a Domestic Minimum Top-Up Tax (DMTT), which is expected to be levied on crypto income that falls below the minimum tax threshold. It's worth noting that the Romanian tax code also incorporates certain aspects of the OECD's first and second sets of Administrative Guidance on the implementation of GloBE rules. However, not all aspects of these guidelines have been incorporated, leaving some room for interpretation and potential future changes. In summary, crypto taxation in Romania is governed by a combination of domestic laws and EU directives, with an emphasis on ensuring compliance with international standards. However, given the rapidly evolving nature of the crypto space, it's important for taxpayers to stay informed and consult with tax professionals to ensure they are compliant with all relevant regulations.