The Fiscal Regime of Microenterprises in Romania

Bogdan Stefanescu

Av. Bogdan Stefanescu

The Fiscal Regime of Microenterprises in Romania

 

Presently, acording to the Romanian Fiscal Code, the conditions that that a company has to meet in order to be considered a microenterprise are as follows:

• The income is obtained from any kind of activities, other than the ones undertaken in the banking, insurance & reinsurance, capital market or gambling fields;

 

 The Fiscal Regime of Microenterprises in Romania

 

Presently, acording to the Romanian Fiscal Code, the conditions that that a company has to meet in order to be considered a microenterprise are as follows:

 

  • The income is obtained from any kind of activities, other than the ones undertaken in the banking, insurance & reinsurance, capital market or gambling fields
  • The income is obtained from any kind of activities, other than the ones undertaken in consulting and management fields, over 80% of total revenue. A company with a maximum of 20% of total revenue coming from consulting and management services will automatically be considered a microenterprise and will subsequently be obliged to pay 3% tax applied to the total income. In case the 20% limit is exceeded, it will also automatically be switched to the usual income tax of 16%
  • The total income over one fiscal year does not exceed the equivalent in RON of 65.000 EUR. Strarting June 1st 2013 companies with a total revenue not exceeding the equivalent in RON of 65.000 EUR are switched on to the microenterprise-type of taxation. If a company's revenue surpasses the 65.000 EUR limit, it will also automatically be switched to the normal income tax of 16%
  • The company's capital is held by a person or persons other than the State or local authorities
  • The company is not envolved in any dissolution followed by liquidation proceedings, registered at the Trade Register or any competent judicial court


Optional microenterprise tax regime


If a company is founded in the course of one fiscal year with a capital of minimum 25.000 EUR, the respective company can opt for the microenterprise taxation regime of 3%. However, in case that the condition of the minimum capital is not met, the company will become a microenterprise only starting from the beginning of the fiscal year, following the year that the capital is reduced below the 25.000 EUR limit.

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