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Starting with 2017 a series of legislative changes will take place. Some are applicable from the 1st of January, the others from the 1st of February. We have grouped them in several main categories:
The corporate income tax:
- The taxpayers engaged exclusively in innovation, research and development activities will be exempted from profit tax in the first 10 years of service;
- Will be extended the deadline for the tax exemption regarding reinvested profit in technological equipment, computers, electronics and peripheral equipment, and also software.
The income tax for microcompanies read more»
The beginning of the year brought some changes related to the legal and fiscal status of the microcompanies in Romania. Specifically, based on the Government Ordinance no. 8/2013, published in the Official Gazette no. 54 from 23 January 2013, the article 1121, c) of the Fiscal Code was modified, it's new content being: „obtained revenues that do not overcome the amount of 65.000 euro”.
In other words, the 100.000 eur limit for revenues that allowed a company to qualify as microcompany, valid until last year, was reduced to 65.000 euro. read more»
On 30th of December 2010 the Romanian Government introduced through the O.U. no. 117/2010 the possibility to return to the status of microcompany.
In the understanding of this ordinance, the microcompany is a legal entity that at 31st of December 2010 meets ALL the following conditions:
- has incomes other than those obtained from banking, insurance, reinsurance, capital markets (except the intermediary in these areas), gambling, consultancy and management.
- has minimum 1 and maximum 9 employees
- achieved revenues that did not exceed the equivalent in lei of 100.000 EUR
- the registered capital is held by persons, other than state and local authorities
On 30th of December 2010 the Romanian Government introduced through the O.U. no. 117/2010 the possibility to return to the status of microcompany. read more»