Economic operators who carry out research and development activities and pay minimum turnover tax will be able to benefit from fiscal incentives, based on an emergency ordinance adopted by the Government on Wednesday.
The emergency ordinance complements Law no. 227/2015 regarding the Fiscal Code, informed a press release sent by the Executive.
"This Emergency Ordinance regulates the reduction from the minimum turnover tax of the value obtained by applying the 16% rate on the amount representing the additional deduction of 50% applied to eligible expenses for research and development activities. Thus, they will be able to benefit from incentives fiscal and economic operators who carry out research and development activities and pay minimum turnover tax, in addition to the taxpayers in this sector who owe profit tax," the quoted source said.
The government mentions that the legislative solution was adopted following consultations with the business environment and has in mind a series of benefits such as: reinvestment of funds deducted in research and development; the increase in investments and expenses related to research and development activities; attracting new research and development projects in Romania; the recognition of research and development activities as being of strategic importance.
The Minister of Finance, Marcel Bolos, announced six days ago a measure to support companies that bring added value to Romania: the extension of fiscal incentives for investments in research and development and for taxpayers who pay minimum turnover tax
"It means that from now on companies like Dacia, Bosch, Continental, Chimcomplex and many others will be able to benefit from tax deductions that will allow them to invest even more in innovation. It is not always easy to take risks and invest in this component of research and development. We have seen countless times how companies that choose to take this bold step become stronger, more competitive and, most importantly, make an extraordinary contribution to our national economy. Tax facilities for these investments have existed for many years Romania and our data show that there are 800 companies that have benefited so far, with annual deductions of over 1 billion RON. It is a natural step to extend the application of the profit tax to the level of the minimum turnover tax," the Minister wrote on Facebook.
He mentioned that, through the fiscal facilities offered for such investments, companies can redirect part of the money saved in new technology, in modern equipment and in the training of employees.
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