Prima pagină » English » Romanian Trade Registry: 80,000 Cos Suspend Ops In 1H, Up 12-Fold On Yr

Romanian Trade Registry: 80,000 Cos Suspend Ops In 1H, Up 12-Fold On Yr

The number of Romanian companies that suspended their activity in the first half of 2009 rose sharply compared with the same period a year ago, Trade Registry data shows, signaling the financial crisis and the minimum tax enforcement have taken their toll on the country's economy.
Romanian Trade Registry: 80,000 Cos Suspend Ops In 1H, Up 12-Fold On Yr
10 iul. 2009, 16:18, English

More than 80,000 Romanian companies suspended operations in the first half of the year, up almost 12 times compared with 6,698 in the same period a year ago, according to Trade Registry data.

Also, a number of 8,921 companies were subject to voluntary winding up procedures in the first half of 2009, almost five-fold higher compared with 1,838 in the similar period a year earlier.

In January-June period, the companies subject to voluntary erasing procedures from the Trade Registry reached 17,914, three-times more than 5,965 in the first half of 2008.

As of May, Romanian companies have to pay a minimum tax based on their annual revenues. Thus, a company will pay a 2,200 lei (EUR1= RON4.2138) tax if its total revenues do not exceed RON52,000, while the maximum ceiling was set at RON43,000 tax for revenues exceeding RON129 million. The companies registering profit further pay a 16% tax, but not below the ceiling for their revenue.

On the other hand, a number of 30,715 authorized natural persons registered with Trade Registry in the first half of 2009, compared with 23,256 in the same period a year ago.

The increase in the number of Romanian authorized natural persons registered was fueled by the enforcement of the minimum tax, the secretary of state with the Finance Ministry Gratiela Iordache said Thursday.

According to an impact survey drafted in June by the Finance Ministry and obtained by MEDIAFAX, a number of 102,000 Romanian companies, with an average monthly turnover of EUR200 in 2008, may cease operations following the minimum tax enforcement.