Flat Tax On Revenues, To Curb Tax Evasion

The Government decided that Starting May 1st flat taxation will be levied on revenues, not on profit, to curb tax evasion. It estimates to raise thus some extra 350 million lei for the budgetary revenues.

Companies with total revenues of up to 52,000 lei will pay a flat tax of 2,200 lei (about 500 Eur), while those recording revenues over 129 million lei will pay a flat tax of 43,000 lei (about 10,000 Eur).

Profit making companies will still pay the flat tax of 16% levied on their profit, but not less than the tax on revenues it should, according to the revenues bracket it falls into.
Micro-companies will pay a 3% tax on their revenues, but not less than the minimum amount set for companies according to the respective revenue bracket they fall into.

Statistics show that in 2007 there were 617,525 companies operating in Romania, of which some 2,000 provided over 85% of budgetary revenues. At teh same time, some 242,106 companies, or 39.2% of the total, stated they had no profit to be taxed on, while their aggregate revenues made 134 billion lei.

The companies operating in the gambling industry will pay a minimum 5% tax on their revenues.

For taxation purposes revenues recorded on 31 December 2008 will be considered.

The new budget reform cut resources previously set for the ministries of agriculture, defense, administration and domestic affairs, education. The only ministry to have its budget supplementd was the Ministry of Work and Social Protection. Overall budget resources are estimated to reach 174.9 billion (or 32.9% of GDP), while budget expenses are set for 199.3 billion lei (or 37,5% of GDP).

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Silviu Prigoană a fost înmormântat azi. Mesajul transmis de familia acestuia

    Translated by Anca Păduraru