Entrepreneurs rushing to close their companiesPublish date: 30-04-2009
"This year, start-ups will not pay minimum profit tax. Meanwhile, companies whose activity was suspended in 2008 and that wish to resume this in 2009 will receive differential treatment and be exempted from paying a fixed quota of profit tax," said Minister of Finance Gheorghe Pogea yesterday.
Two days before the modifications to the Fiscal Code go into effect, and as employers associations request a new round of negotiations on the ordinance regarding the introduction of the lump-sum tax as of 1 May, Pogea assured that the lump-sum tax will not generate bankruptcies and that the payment regime of the profit tax remains the same.
However, the minister's declarations do not help entrepreneurs, who have been storming the branches of the National Trade Register Office (ONRC) for the past two weeks, since the ordinance with modifications to the Code was published in the Official Gazette. Entrepreneurs are requesting the suspension or voluntary cessation of their companies established in previous years and for which they do not wish to pay the "Pogea tax."
The 48 ONRC branches in Bucharest could barely handle the avalanche of suspensions, dissolutions, and cessation files which were waiting to be submitted to the authorities. In fact, the lump-sum tax has led to fear among small and medium-sized enterprises, according to statistics forwarded to the press yesterday by ONRC officials. The data made public indicated that the number of suspension applications filed since the beginning of this month is almost 3.5 times higher year-on-year. The number of applications for dissolution and that for voluntary company cessation have also skyrocketed.
The government's decision to introduce the lump-sum tax means that companies with revenues of up to RON 52,000 will be obliged to pay a tax of some €500, while enterprises with revenues exceeding RON 129 million will pay a tax worth some €10,000.
- Insurance market stagnated in 2013 while GDP chare dropped to 1.3%
- The Romanian Leasing Market as of December 31, 2013
- Millennium Bank reports best results since its launch, helped by stronger banking income and cost cuts
- BCR cheapens First Home loans and lowers interest loans for loans in lei
- Millennium Bank's new Salary account clients receive up to 600 lei bonus and their utility bills' payment
- GarantiBank and Seamless introduce SEQR in Romania: the newest mobile payment solution
- Bancpost telecom services, now provided exclusively by Romtelecom and COSMOTE Romania
- Millennium Bank cards offer discounts in Domo stores
- BCR Supervisory Board reshuffles Management Board
- NBR decide to lower the monetary policy rate to 4.25 percent per annum
- Common appointments in Romtelecom and COSMOTE Romania
- Up to 5.5% annual interest rate for Millennium Bank's promotional three-month lei deposit
- Eurozone in recovery mode but gap between North and South still widening
- UniCredit Tiriac Bank and RBS Romania announce the successful completion of the retail clients' migration
- Millennium Bank grants First House loans in lei