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Romania Won’t Exempt Reinvested Pft From Taxation In ’09

Romania’s Government will not exempt this year the tax on reinvested profit, and the fiscal incentive will be introduced in 2010 only for "certain activities," according to the revised version of the Convergence Program, obtained by MEDIAFAX.
Romania Won't Exempt Reinvested Pft From Taxation In ’09
14 mai 2009, 17:15, English

According to the Program’s first variant, issued in January, the decision not to tax the companies’ reinvested profit had to be introduced as of the second quarter of 2009.

The budget impact of this measure will be of 50 million lei (EUR1=RON4.1891), compared with the estimated RON700 million in the previous program.

In April, Romania’s Finance Minister Gheorghe Pogea said the profit tax might be reduced or eliminated in the second half of 2009, in case the companies reinvest their profit.

The tax exemption on reinvested profit was included in the governance program.