Fairness in peril under new tax laws
Romania’s new tax regime on company turnover and cars is under attack by the local business community, writes Alexandra PehlivanRomania’s introduction of a turnover tax has been attacked by the local business community as unfair and ineffective June 2009 - From the Print Edition
The Government’s aim is to bring more cash to the budget due to its historic failures to attract money from its profit tax.
But business leaders believe the new tax will penalise small enterprises, forcing many into insolvency, as well as failing to increase tax collection to a sizeable degree.
Since 1 May this year, a company with a turnover up to 12,000 Euro will have to pay a minimum annual tax of about 500 Euro.
Meanwhile a company with a turnover of up to 30 million Euro mus...
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