profit tax

Romania’s government Wednesday raised the amount state-run companies and self-managed boards are required to contribute from their profits to the state budget to 90% from 50% previously, Prime Minister Emil Boc said.

Romanian SMEs disagree with eth Government’s decision to cancel early profit tax payments until 2012 and want the measure kept for microenterprises until 2020, arguing these small businesses need several years to recover from the economic crisis.

Romania's Finance Ministry analyzes the possibility to annul the early payment of the profit tax, minister Sebastian Vladescu told a news conference Wednesday.