Romanian Govt Approves Minimum Yr Tax Based On Co Turnover

“We want to eliminate potential evasion from declaring some revenues,” Finance Minister Gheorghe Pogea said at the end of a government meeting.

 

Under the act, companies that report losses will have to pay a lump-sum tax based on their turnover, while the companies registering a profit will continue to pay the annual flat tax of 16% on their profit, but no less than the minimum limit due to the value of their turnover.

 

Companies that post turnover up to 52,000 lei (EUR1-RON4.1189)  have to pay a minimum yearly tax of RON2,200, while companies with turnover between RON52,001 and RON215,000 are to pay RON4,3000 minimum tax a year.

 

The minimum tax will reach up to RON22,000 (EUR5,000) a year for companies that post annual turnover between RON21.5 million and RON129 million.

 

Initially, the Government planed to introduce an annual tax of 0.5% on the revenues posted by companies that activate in certain domains, but no less than RON6,500 a year.