Micro company in Romania has a tax regime of 3 percent till 100.000 euro – taxes in Romania

More info mail frjacobs@telenet.be

The micro company is a very interesting company as the tax levels are very low. It can be used to save money as it is a company it is fully legal (piggy bank). With this company you can invest and when you make the pension you simply dissolve it and then the remaining money will be transferred after legal dissolvation in conformity with law 31/1990 to your personal account.

According to GEO 50/2015 amending the Law 227/2015 - The new Fiscal Code, published in MOF No 817 of 3 November 2015 starting 1 January 2016 for micro cap will be 100,000 euros.

Conditions of admission to a company in the micro category:

• incomes other than the activities in banking, insurance and reinsurance, capital markets, gambling and exploration / exploitation of natural deposits;

• incomes other than those of consulting and management, in a proportion of 80% of total revenue;

• incomes do not exceed the RON equivalent of EUR 100,000;

• share capital must be held by persons other than the state or local authorities;

• dissolution is not in liquidation, registered in the Trade Register or the courts.

Income tax

Taxing income microenterprises are made depending on the number of employees:

• The tax rate 1% - minimum 2 employees;

• The tax rate 2% - one employee;

• The tax rate 3% - no employees.

For the company to benefit from reduced rates of income tax (1% or 2%), employees must be full-time employees. Tax Code states that if, during the fiscal year, the number of employees changes, tax rates mentioned above will apply beginning with the quarter in which the change is made.

For enterprises that have an employee or two employees when the service terminates, maintaining the tax rate is considered fulfilled if during the same quarter are hired new employees.

More info mail frjacobs@telenet.be