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Romania Reduces Quota Of Deductible Expenses On Intellectual Property Income To 20%– Draft

The quota of deductible expenses for the net income obtained from intellectual property will be reduced to half, at 20% of the gross income, from the current 40%, according to a draft emergency decree amending the Fiscal Code.
Romania Reduces Quota Of Deductible Expenses On Intellectual Property Income To 20%– Draft
26 mai 2010, 11:06, English

The draft also sets that the quota of deductible expenses for the net income obtained from creating monumental art works will also be reduced to half, at 25% of the gross income, from the current 50%.

By reducing the quota of deductible expenses when setting the net income from intellectual property, the Romanian Government estimates to bring an extra 10.5 million lei (EUR1=RON4.1838) to the state budget in the second half of 2010, RON22 million in 2011, RON24 million in 2012 and RON25 million in 2013.

A draft recently drawn up by the Finance Ministry indicates that the Government estimates to obtain extra revenues of RON76 million in 2010 by introducing social security contributions on intellectual property income along with reducing the quota of deductible expenses to 25%, from the current 40%.