Regulations for profit tax calculation

The expenses for insurance premiums for occupational accidents, occupational diseases and occupational hazards, as well as expenses for any other insurance premiums paid by employers on behalf of the employees and subject to taxation for any individual employee may be deducted when calculating the profit tax. Also deductible are the expenses in form of membership fees paid to various trade associations, whose public utility is acknowledged by Government Decisions, but only up to the ROL equivalent of 1,000 euros a year. #leadend#

These regulations were set during the mediation of an ordinance issued in 2003 and correlating certain provisions in the fiscal-financial legislation, enacted by the Chamber of Deputies at the end of last week. The ordinance largely sanctions the version voted by the Senate.

Another article lists the VAT exemptions: the export of goods, the transport and services directly related to the export of goods, the goods sold in duty-free shops, as well as in shops located in international airports, beyond the spots set for customs inspection of those leaving the country.

There is also a modification stipulating no land tax is to be paid for the plots of land held by hydro-technical or navigation complexes, harbours, canals, as well as for the plots of land related to land improvement works. Mediafax