Employers also say the introduction of the lump-sum tax was decided without consulting them, adding that the companies’ productive capacity should be stimulated, not hindered.
Romania’s Government approved Saturday the budget revision, which includes the introduction of a minimum yearly tax of RON2,200 (some EUR500), computed based on companies’ total revenues.
Under the act, companies that report losses will have to pay a lump-sum tax based on their revenues, while the companies registering a profit will continue to pay the annual flat tax of 16% on their profit, but no less than the minimum limit due to the value of their revenues.
Companies that post total revenues up to RON52,000 have to pay a minimum yearly tax of RON2,200, while companies with revenues between RON52,001 and RON215,000 are to pay RON4,300 minimum tax a year.
The minimum tax will reach up to RON43,000 (EUR10,000) a year for companies that post annual revenues over RON129 million.