Total taxes owed by companies may reach as much as 30% of thegross profit, almost double the 16% quota if their financialsituation fluctuated from one quarter to another last year so thatthey moved from the profit tax bracket to the minimum taxbracket.
Such companies now have to pay the 16% profit tax and theminimum tax, but the amounts exceeding what was due cannot besettled at the end of the year so that the companies cannot getthem back.
"The problem occurs in the case of those companies whosefinancial situation fluctuated last year, when they moved fromprofit to loss and then back to profit. If they posted losses lastyear, they paid a minimum tax. When they moved to profit they paidprofit tax. The minimum tax is not deducted when the profit tax iseventually balanced. It is an extra payment. The fiscal burden maytake the tax to 30%," explained Luminita Ristea, Nexia managingpartner.
The minimum tax was introduced in April 2009 and was challengedby most business people.
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