Business in Romania blog
The business in Romania blog writes about the Romanian business landscape, doing business in Romania, investing in Romania business and debating on business issues in Romania. Check this Blog's Policy here.

Wednesday, January 05, 2005
Business in Romania blog
As you probably know, the new Romanian government managed to make some changes in the taxes regulations in Romania just a couple of days before the New Year's Eve.

Some of the changes include:

- the salary tax will be changed to a unique quota of 16%, for all employees. This is a major change, as before this the tax system included different quotas that would go up to 40%. This change is very positive for the employees that have agreed on a gross salary, as they will gain quite some extra-cash every month.

- the social contributions will still be kept at 49,5% (for both employer and employee) and they won't be lowered to 47,5% as expected. They will be reduced though in 2006.

- for micro-companies, the income tax will be doubled from 1,5% to 3%. As you probably know, Romanian micro-companies could choose from paying an income tax (until now 1,5%) instead of a profit tax (of 16%). This will make the companies that have a profit rate of over 19% to be encouraged to choose to pay the profit tax. This measure is also expected to put some of the micro-companies in Romania in a more legal position, as we all know that the system that was before created a complex network of micro-companies that were masking avoiding the law in order to pay less taxes than they should.

- other changes: rent incomes will be taxed by 16%, taxes for copyright will be raised to 16%, gambling incomes will be taxed with 20% of gross value.

Posted by Mihai : 1/05/2005 11:08:00 am The new Tax regulations in Romania
Business in Romania blog
Business in Romania blog

Business Archives

06/01/2004 - 07/01/2004
08/01/2004 - 09/01/2004
09/01/2004 - 10/01/2004
10/01/2004 - 11/01/2004
11/01/2004 - 12/01/2004
12/01/2004 - 01/01/2005
01/01/2005 - 02/01/2005
02/01/2005 - 03/01/2005
03/01/2005 - 04/01/2005
04/01/2005 - 05/01/2005
05/01/2005 - 06/01/2005
06/01/2005 - 07/01/2005
07/01/2005 - 08/01/2005
08/01/2005 - 09/01/2005
09/01/2005 - 10/01/2005
10/01/2005 - 11/01/2005
11/01/2005 - 12/01/2005
12/01/2005 - 01/01/2006
01/01/2006 - 02/01/2006
02/01/2006 - 03/01/2006
This is a Flickr badge showing public photos from Mihai Botea. Make you own badge here.

Add Business in Romania to My Yahoo!

Previous Posts


Business in Romania Feed Burner

Business in Romania is powered by Blogger

This website is proud to be designed by Mihai Dragan

I usually listen to THIS kind of music.