Romanian Micro-Cos May Pay 16% Profit Tax Or 3% Income Tax – Govt Decision

Romanian micro-companies will be able to opt between paying a 16% tax on profit, and a 3% tax on income, according to an amendment to the Fiscal Code adopted Thursday by the Government.

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Finance Minister Gheorghe Ialomitianu said this choice is open to companies with one to nine employees and whose revenue last year amounted to no more than EUR100,000. Companies involved in banking, gambling or consultancy and management will continue to pay a 16% profit tax.

People close to the matter told MEDIAFAX in November the Government is contemplating the reintroduction of a 3% income tax for micro-companies.

Until the end of last year, micro-enterprises enjoyed a special taxation policy, which allowed them to opt between paying a tax on profit or a tax on revenue, which was increased gradually over the past years to 3% of revenue.

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