Romania’s Govt Cancels Early Payment Of Profit Tax Until 2012

The Romanian Government decided to cancel until 2012 the early payment of tax on profit, which was introduced at the beginning of 2010, Prime Minister Emil Boc said at the end of Wednesday's Government meeting.

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According to the country's current legislation, in 2010, firms should have paid the tax on profit quarterly. The tax would have been set at a quarter of the tax on profit paid in 2009 and indexed to inflation.

Romanian Prime Minister Emil Boc gave in to the requests addressed by employers who said the law will affect small enterprises.

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