Romania to double turnover tax for banks

Business Forum

3 July, 2025 at 7:00 PM

Romania's Government aims to double the special turnover tax for banks to 4% as part of a wider fiscal package designed to balance public finances.

The higher tax will be applied starting July 2025 until the end of 2026, according to a draft bill that will be backed by the Government in a special session in Parliament.

"Banks in Romania have one of the best returns on equity in this part of Europe. I believe they can contribute larger sums to state budget revenues," stated PM Ilie Bolojan.

In the first two semesters of 2025, banks had to pay a turnover tax of 2%.

The banking sector's profit in 2024 was RON 14.8 billion (€2.92 billion), recorded across 32 banks, including 8 branches of foreign banks, according to central bank data. This represents the largest profit ever registered by the banking sector since 1990.

Half of Romanians fear an uncomfortable retirement, says report

Around 50% of Romanians are expressing concern that they will not be able to maintain a comfortable lifestyle after retirement, finds new research by Kearney.

Real estate

ELI Parks starts new industrial project near Bucharest

Local developer ELI Parks has started the construction of ELI Park 5 Bucharest in partnership with general contractor Eren Cons. Located in the north-western area of Bucharest, ELI Park 5 continues the expansion of the ELI Park Bucharest development, an industrial hub designed for efficiency, flexibility, and sustainability.

Real estate

Romanian home sales stagnate as Bucharest market declines

Over 119,500 residential units were sold in Romania in the first nine months of 2025, a similar level with that recorded in the same period of 2024 (down only 0.3%), according to a market analysis by SVN Romania and based on official statistics of the National Agency for Cadastre and Land Registration.

Real estate

Romania's retail parks target smaller cities for growth

Romania is positioning itself as a key retail market in Central and Eastern Europe, with developers shifting focus from large cities to smaller communities, according to a Colliers report. While large cities previously concentrated three quarters of modern retail stock, rising incomes and demand for modern formats are making communities of around 50,000 inhabitants attractive for new investment, with retail parks driving development.

Economy

Romania to hike VAT starting August in budget balancing move

Romanian PM Ilie Bolojan announced on Wednesday a raft of measures designed to support the reduction of the country's budget deficit.

Finance

Banks reject plan of additional profit taxation in Romania

Representatives of Romanian banks are opposing the Government's intention to introduce another supplementary tax on the profits generated by credit institutions.