Tax rate for micro-companies increased from the 1st of January 2009

Tax rate for the incomes of the micro-companies increased from 2.5% to 3% from the 1st of January 2009, according to art. 107 of the Fiscal Code.

In order to benefit of the advantage of the fiscal policy for micro-companies, companies which choose this option should meet on December 31st of the previous fiscal year, cumulative, conditions laid down in Article 103 of the Fiscal Code:

1. to achieve revenue, other than those of consulting and management, the proportion of over 50% of total revenues;
2. to have at least 1 employee and maximum 9 employees;
3. to make annual income not exceeding the equivalent in RON of 100,000 euros
4. the registered capital of the legal person to be detained by natural or legal persons other than the State, local authorities and public institutions.

Return to pay tax

Tax rate for the incomes of the micro-companies increased from 2.5% to 3% from the 1st of January 2009, according to art. 107 of the Fiscal Code.

In order to benefit of the advantage of the fiscal policy for micro-companies, companies which choose this option should meet on December 31st of the previous fiscal year, cumulative, conditions laid down in Article 103 of the Fiscal Code:

1. to achieve revenue, other than those of consulting and management, the proportion of over 50% of total revenues;
2. to have at least 1 employee and maximum 9 employees;
3. to make annual income not exceeding the equivalent in RON of 100,000 euros
4. the registered capital of the legal person to be detained by natural or legal persons other than the State, local authorities and public institutions.

Return to pay tax

Micro-companies can choose for the payment of the tax on profits with the beginning of the following fiscal year.

This option can be exercised until the 31st of January of the following fiscal year of the one for which the tax for micro-company incomes was due. However, if during a fiscal year a micro-company achieves higher revenues than 100,000 euros or share revenue from consulting and management in total income is over 50%, it will pay tax on profit taking into account the revenue and expenditures made from the beginning of the fiscal year.

The calculation and payment of tax shall be made with the beginning of the semester in which these limits have exceeded, but without delay increases.

In determining the tax payments there will be reduced the payments representing the micro-enterprises income tax made during the fiscal year.

Tax payment and deposit of fiscal declarations

The calculation and payment of micro-enterprises income tax shall be made each trimester up to the 25th of the month following the trimester for which tax is calculated.