Romania To Capitalize CEC, Eximbank, Exempt Reinvested Pft From Taxation As Of 2H - SMEs Min

The capitalization of Romanian state-owned CEC Bank and Eximbank, the setup of the fund co-guaranteeing loans for small- and medium-sized enterprises and the tax exemption on the reinvested profit will be made in the second half of 2009, the country's SMEs Minister Constantin Nita said.

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Even if these measures had been previously announced for the first half of the year, they will be applied as of the second half, the minister said Tuesday.

"The Government is currently working on a second anti-crisis plan. It's trying to find a way to support SMEs in the second part of the year," Nita said.

According to him, the Government plans to amend the Tax Code, so that the decision not to tax reinvested profit may be introduced as of July 1. This decision will compensate certain already- adopted measures that displeased the Romanian business environment, he stated.

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