Micro-enterprises have 60 days to hire people

Micro-enterprises operating with no employees and wishing to pay 1.5% tax on total revenues will have 60 days at their disposal to meet the conditions of the law regarding the number of employees. The budget, finance and banks committee within the Senate has modified the law draft enacting Ordinance 36/2003 that refers to the correlation of certain provisions of the financial-fiscal legislation by introducing some clarifications required to solve problems pertaining to the implementation of Ordinance 24/2001, which regulates the taxation of micro-enterprises. The 60-day term is also valid for companies wanting to be included in the Trade Register as micro-enterprises upon establishment.  In line with Ordinance 24/2001, this kind of companies may chose to pay a tax of 1.5% of total revenues, instead of the 25% tax representing profit tax. The category of micro-enterprises includes private companies that at the end of the previous year reported revenues of 100,000 euros at most. The respective companies have to operate within the goods production field, the services field and/or the trade sector. One of the conditions for a micro-enterprise to benefit from the 1.5% tax was for it to have between zero and nine employees. The Parliament early in April modified this stipulation through Law 111/2003 enacting Ordinance 24 and decided that micro-enterprises were bound to have at least one employee. ZF