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The Government Emergency Ordinance ("GEO") no. 110/2024 on the completion of Law no. 244/2024, which recently brought changes regarding the monthly non-taxable amount for establishing the taxable income from pensions, was published in the Official Gazette no. 922 of 12 September 2024
In the original version of Law no. 244/2024, the increase in the monthly non-taxable amount from RON 2,000 to 3,000 for determining taxable pension income was not intended for income with a non-contributory component.
GEO no. 110/2024 introduces an exemption to Law no. 244/2024.
Thus, income from pensions granted under Law no. 223/2015 regarding state military pensions, although not established based on the contributiveness principle, are subject to the increased monthly non-taxable amount of RON 3,000.
This provision applies starting with the income from pensions for the month of October 2024.
Prepared by:
- Andra Ciotic – Senior Manager, People Advisory Services, EY Romania
- Georgiana Florea - Senior Consultant, People Advisory Services, EY Romania
For additional information, please contact:
- Alex Milcev - Partner, Tax & Law Leader Romania and Moldova