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The Government approved on Friday the exemption from corporate tax of companies that conduct activities solely in innovation, as well as research and development, and the introduction of a 1 percent tax rate for small enterprises with one or more employees, following the adoption of an Emergency Ordinance for the modification and completion of the Law regarding the Fiscal Code, announced the Ministry for Business Milieu, Commerce and Entrepreneurship (MMACA)., acording agerpres.
According to MMACA, the modifications brought to the Ordinance aim firstly at exempting from corporate tax companies that carry out solely innovation and R&D activities, changing the statute regarding the definition of small enterprise by increasing the threshold of income achieved on December 31 of the previous fiscal year from 100,000 euro to 500,000 euro, and the introduction of the 1 percent tax rate for small enterprises with one or more employees.
