President of Romania signed a bill granting tax benefits to digital nomads

A bill that clarifies the taxation of digital nomads was signed into law by the president of Romania, Klaus Iohannis.

As a result, tax breaks will be available to foreigners who stay in Romania for an extended length of time and use technology to work remotely. They won’t have to contribute to social security, social health insurance, or wage taxes.

Digital nomads must satisfy the requirement of being present in Romania for one or more periods that do not exceed 183 days in a period of 12 consecutive months, according to the law cited by Euronews Romania, in order to qualify for tax exemptions.

This clarification of the tax system follows the introduction of visas for digital nomads in Romania. At the end of 2021, Parliament passed the bill implementing the digital nomad visa program, and the President promulgated it in January 2022.

What are digital nomads?

Digital nomads are people who use technology and the Internet to travel freely and work remotely.

These people typically have minimal material possessions and work remotely in temporary accommodations, hotels, cafes, public libraries, coworking spaces, or RVs, using Wi-Fi, smartphones, or mobile hotspots to connect to the Internet.

Some nomads travel across multiple countries, others stay in one area, and still others choose to live in a vehicle, often referred to as living in a van. In 2020, 10.9 million working Americans described themselves as digital nomads, a 49% increase from 2019, according to a research study.

The post President Of Romania Signed A Bill Granting Tax Benefits For Digital Nomads appeared first on Traveling Lifestyle.

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By: Viktor Vincej
Title: President Of Romania Signed A Bill Granting Tax Benefits For Digital Nomads
Sourced From: www.travelinglifestyle.net/president-of-romania-signed-a-bill-granting-tax-benefits-for-digital-nomads/
Published Date: Sat, 01 Apr 2023 16:21:24 +0000

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