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Government modifies Fiscal Code on profit, income tax

The Government modified on June 24, through an Emergency Ordinance, the Fiscal Code in terms of profit and income tax.

Thus, the period of recouping the fiscal loss has been extended from 5 to 7 years for the fiscal loss recorded as of 2009. The measure is to the advantage of the business environment as there are fields in which the establishment and development of a business requires a longer period of time until deriving revenues.In the field of the income tax, the Government has decided that the interest rate and revenues from the taxation of the T-bonds and bonds issued by administrative-territorial units, which are instruments of the governmental and local public debt, be non-taxable revenues. Sursa: http://www.actmedia.ro

Tags: income fiscal government

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