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Corporate tax possibly set at quarterly minimum of RON 1,625

Under the draft emergency ordinance on the revision of the 2009 budget and the settlement of particular financial and tax measures the Public Finance Ministry (MFP) sent the social partners, companies might be bound to pay a quarterly minimum (lump-sum) tax of RON 1,625 starting Q3 2009. The draft normative act provides that the lump-sum tax comes in effect starting May 1, 2009, and for the interval May 1 - June 30, 2009 the minimum tax shall be RON 1,083 no matter if the companies make profit or not.

The lump-sum tax shall apply to companies that perform activities such as property transactions, rental and lease, investigations and protection, wholesale and retail trade, car and motorbike maintenance and repair, wholesale trade - automotives and motorbikes excepted - to companies that operate hotels and other accommodation facilities, restaurants or those running business in other public food service activities, information technology activities, information services, law and accounting activities, those active in the food industry, the production of beverages, to entities with activities of coordinating departments (central offices), central administrative offices, management and management consulting, architecture and engineering, technical testing and analysis, travel agencies and tour-operators, other booking and tourist assistance activities, office management activities, support activities and other services provided mainly to enterprises, sport, leisure and entertainment activities, road transport, other services.

The taxpayers specializing in such activities and which are levied a profit tax of less than 0.5 pct of the registered revenues are bound to pay a tax of 0.5 pct of registered revenues, yet no less than RON 6.500 a year (RON 1,625 per quarter).

'The taxpayers whose activity consists mainly of running night bars, nightclubs, discos, casinos or which are involved in sports betting, including the juridical persons that derive revenues based on a partnership contract and which - under this article - owe a profit tax of less than 5 pct of the respective revenues, are bound to pay a tax of 5 of the registered revenues,' reads the draft ordinance.

According to MFP, in 2007, of the 617,000 registered tax-payers 40 pct had been reporting losses for at least two years in a row.

The 617,525 companies registered in 2007 reported a combined turnover of RON 770 bln and an average rate of profitability of 5.8 pct. The loss-making companies - 242,000 - reported a combined turnover of RON 134 bln and an average loss rate of 16.2 pct, whereas the average gain rate for profit-making companies was 10.4 pct.

According to Finance Minister Gheorghe Pogea, 12,000 taxpayers contribute more than 85 pct of public revenues. There are certain activity areas where companies reported an average loss rate of 180 pct a year.

 

Sursa: http://www.rompress.ro

Tags: companies activities other revenues minimum registered car mfp

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