tax
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Finance Minister dangles tax carrot again
Finance minister Mihai Tanasescu has resumed promises about continuing the reduce the social security contributions (CAS) by three percentage points as of 2005, as well as the profit tax to...
Profit tax to be calculated annually, 5% drop envisioned for 2005
The Romanian companies have to wait until 2005 to escape the hassle of declaring the profit tax every three months (and even every month in the case of banks). According to the Finance Minis...
World Bank warns about payroll tax
The payroll taxes are extremely high in Romania and the higher the taxation becomes, the lower the number of employees gets, the World Bank's latest Poverty Assessment report shows. "Such hi...
IMF wants single social tax rather thenb income tax
The International Monetary Fund (IMF) is not giving up the project it submitted to the Romanian authorities last year, which entails "gathering" all four social security contributions (socia...
Tax on reinvested profit kept
Dropping the reinvested profit tax is not an efficient step to take, as it is discriminatory, the Finance Ministry says in an answer to the requests of the representatives of various SMEs. "...
Companies likely to get tax cut for stock and real estate transactions
The companies that will post profit after selling shares, investment fund units or real estate will have to pay only 10% tax for the respective gains, as of next year. If the sale does not y...
Flat tax gets lost on the way from Government to Parliament
Despite all the commotion sparked last month by the Finance Ministry, the flat tax is no longer mentioned in the Fiscal Code bill, which is to be debated by Parliament. The Ministry of Publi...
Fiscal Code: two income tax systems
After four months of calculations and talks with representatives of the business community and of the trade unions, the Government during its latest meeting endorsed the fiscal code draft to...
Fiscal Code: two income tax systems
After four months of calculations and talks with representatives of the business community and of the trade unions, the Government during its latest meeting endorsed the fiscal code draft to...