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Romania Govt Reconsiders Lump Sum Tax – Sources

Romania's Government has reconsidered plans to levy a lump sum tax on companies as of 2011 and is contemplating the reintroduction of a 3% income tax for micro-companies, people familiar with the matter told MEDIAFAX Friday.
Romania Govt Reconsiders Lump Sum Tax - Sources
Oana Gavrila
22 nov. 2010, 11:54, English

They said the Government gave up its plans because of potential difficulties in managing the tax collecting system.

The lump sum tax was slated to come into force early next year and was supposed to replace a minimum tax on income which was eliminated in October.

Romanian companies currently pay a flat tax on profit of 16%.

Until December last year, micro-companies were allowed to opt between paying the tax on profit and paying a 3% tax on income. The choice was eliminated in January 2010.