Twelve times more companies suspended their activity in 2009, compared to the year before. In absolute figures, that makes 127,000 companies, according to data from the National Office for the Trade Registry (ONRC).
At the same time, five times more companies dissolved, or 17,670, and 1.6 more companies were radiated from the registry, or 39,371.
Business people and politicians alike criticize the mandatory minimum tax imposed since May 1st which they say prompted the downturn in the number of companies.
The tax is around 500 Euro for companies earning up to 12,400 Euro, and around 10,000 Euro for companies exceeding 31 million Euro in earnings. Companies which make profit continue to be taxed at the flat rate of 16%.
Translated by AAP