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No Of Dissolved Cos Unrelated To Minimum Tax Enforcement – Fin Min

The number of companies dissolved this year is not related to the implementation of the minimum yearly tax as of May 1, but rather reflects a natural evolution of the economy, which was also registered in the previous years, Finance Minister Gheorghe Pogea said Thursday.
No Of Dissolved Cos Unrelated To Minimum Tax Enforcement - Fin Min
30 apr. 2009, 16:32, English

Pogea reminded that in 2008, 50,024 companies were dissolved, while another 146,508 were registered, similar with 2007.

He also said the tax is not even applied, as it will be enforced as of May 1.

Some 5,763 companies submitted requests for temporarily activity suspension, dissolution or voluntary erase, between April 1 and 27, at Romania’s National Trade Register Office ONRC, three-times higher on the year, most of the companies operating in the real estate and trade sectors.

According to a government decision, starting with May 1, companies will pay an annual minimum tax based on their revenues. Thus, a company will pay a 2,200 lei (EUR1=RON4.1835) tax if its total revenues do not exceed RON52,000, while the maximum ceiling was set at RON43,000 tax for revenues exceeding RON129 million.

The companies that register profit will continue to pay a 16% tax, but not less than the minimum limit for their corresponding category of revenues.