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Romanian Fin Ministry Lacks Data Of Min Tax Grid Setup

Romania’s Finance Ministry does not currently have a database and a grounding for the figures behind the minimum tax grid, the secretary of state within the ministry Cosmin Coman said Tuesday.
Romanian Fin Ministry Lacks Data Of Min Tax Grid Setup
28 apr. 2009, 14:16, English

"As for a database or the grounds of the figures, I perfectly agree we do need one. I discussed with the social partners and we agreed upon these tranches," Coman said.

The minimum tax was introduced as a corrective measure, he added.

"It is very important to ensure the same level for the good ones as well as for the bad ones," Coman said. He added the tax level is not very high and Romania ranks 5th in the European Union by the profit tax.

The Romanian government recently approved an emergency ordinance under which companies are to pay a minimum yearly tax of 2,200 lei (some EUR500), computed based on total revenues. The tax could go up to RON43,000 for companies with total revenues above RON129 million.