Tax-Free Reinvested Pft, Opportune Yet Late Measure - Assoc

The tax exemption on reinvested profit is an opportune yet late measure, as few companies will qualify for this facility, given the difficult economic environment, Mihai Ionescu, secretary general of National Association Of Romanian Exporters And Importers ANEIR, stated Friday.

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"(…) They ( the government - e.n.) only take into account the profit obtained between October 1, 2009 –December 21, 2010, but it is a difficult period and few companies will qualify for this facility," Ionescu stated after meeting finance minister Gheorghe Pogea and unions and employers representatives.

The tax exemption will be applicable only for production and/or acquisition of new technological equipment, namely machines, equipment and installations.

The tax exemption on reinvested profit will have a negative budget impact of up to 420 million lei (EUR1- RON4.2240).

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