7.1 C
March 8, 2021

Micro-enterprises may opt between income and profit tax

The Government approved a change of the Fiscal Code that will allow micro-enterprises to opt between paying a 16 pc tax on net profit, or a 3 pc tax on incomes. The measure has been agreed with the IMF and the EC, Mediafax reports. As of January 1, 2011, a company may opt for either of the two taxes, if it meets the conditions for being a micro-enterprise: annual turnover under EUR 100,000 and up to 9 employees.

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