tax
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Harsher punishments for tax evasion
The end of next month will come with harsher punishments and higher fines for tax evasion for both individuals and legal entities. Effective August 29, the imprisonment for tax evasion may b...
SMEs want tax on reinvested profit dropped
The representatives of the private small and medium-sized enterprises advocate dropping the tax on reinvested profit, which they feel would help develop their businesses and boost state budg...
Tax deductions promised for next year
The Exchequer is becoming unexpectedly generous, considering the budgetary austerity over the last few years: as of next year, it is prepared to acknowledge certain expenses as deductible fo...
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 beha...
Profit tax cuts yet to reach Romania
With a standard profit tax quota of 25%, the Romanian companies have to bear heavier fiscal burdens than the enterprises based in the neighbouring countries. For instance, the Hungarian Exch...
Negative response to dividend tax raise
Finance Ministry's plan to introduce a single taxation quota for the dividend-related income for individuals and companies, raised to 20%, has been met with criticism by the business communi...
Unstable tax system threatens EU accession
Romania has the most unstable fiscal system in the entire Central and Eastern Europe, which obstructs the building of a performance market economy, raising doubts about EU accession, say the...
Tax refunds only upon request
Ordinance 61/2002 on budgetary debt collection in effect since January 1, 2003 has finally got enforcement guidelines published in the Official Gazette. Article 19 of the ordinance specifies...
Finance Ministry hesitating to tax last year's employee perks
The commotion stirred by the prospect of retroactively taxing 2002's employee perks based on enforcement guidelines yet to be officially published, has made the Finance Ministry think twice....