The Senate last Thursday rejected the possibility that small and medium-sized enterprises posting total annual revenues up to 200,000 euros should benefit from forfeited taxing depending on the previous year's turnover.
The stipulation, also included in the Emergency Ordinance 297/2000 regarding incentives to be granted to SMEs and previously voted by the Chamber of Deputies, was eliminated during works of the mediation commission established in order to harmonise the articles voted differently by the Senate and the Chamber of Deputies.
The Senate plenum, which on Thursday voted the report of the mediating commission, agreed to eliminate this stipulation from the text, but the Deputies still have to decide on this issue.
Last month, while the ordinance was being discussed within the Senate Economic Panel, SME minister Silvia Ciornei claimed that such a stipulation was no longer necessary as the Executive would "soon" release a normative act stipulating a common tax of 2% levied on SMEs.
The Senate maintained the item saying that SMEs may use the fast amortisation system for machines, installations, industrial equipment and know-how without having to request the approval of the General Departments within the Finance Ministry, as the ordinance previously stipulated. The only condition is that the respective companies must post no losses.
According to the normative act, SMEs will benefit from a 20% profit tax cut provided they create new workplaces and the average number of employees increases by at least 10% against the previous year. The tax cut applies only if the workforce is maintained in the company and no layoffs are undertaken.
Moreover, SMEs are exempt from customs tax payment for imports of insufficient or lacking raw materials necessary for their own production activities or for the services they provide.
The list comprising raw materials exempt from customs tax payment is approved every year through a government decision. SMEs are also exempt from customs tax payment for imports of machines, installations, industrial equipment, tools and know-how. The Law explicitly stipulates that car imports are not exempted from customs tax payment.
According to the procedures, the mediating report discussed on Thursday by the Senate will also have to be debated by the Chamber of Deputies.
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