The minimum tax was finally dropped, yet tax consultants saythat the ordinance is not really specific and has lots of flawslikely to give taxpayers and accountants a headache.
"The positive message is that the minimum tax was dropped. Yetthe legislation is not well correlated, it contains a lot ofunclarities and is laborious. It will give accountants a headache.There are two tax periods. The manner of calculating the taxableprofit for the final quarter of the year is subject tointerpretations. In addition, the regularisation mechanism iseliminated. You can be making losses and not be able toregularise," commented Emilian Duca, tax partner with BDO Conti TaxAdvisors.
The Government decided to drop the minimum tax as of October 1, sothat companies will pay profit tax for the last three months of theyear. The final minimum tax payment date of the amounts due for thethird quarter is October 25.
The minimal tax was enforced as of May 2009, and calculated in linewith the turnover, so that it stood at a minimum 500 euros and amaximum of 10,000 euros per year.
It was challenged by both major companies and small entrepreneurs,as well as by analysts and tax consultants, who said it was not agood time to introduce a minimum tax given that many companies werein the red because of the economic crisis.
Pentru alte știri, analize, articole și informații din business în timp real urmărește Ziarul Financiar pe WhatsApp Channels
