PM Ciuca: Ordinance on micro-enterprises 16pct profit taxation to be adopted on Friday

Prime Minister Nicolae Ciuca stated on Thursday, in Craiova, that the Government Emergency Ordinance (GEO) by which micro-enterprises with a turnover between 500,000 euros and 1 million euros will be taxed with 16pct on profit instead of 1pct of revenues, as currently in force, will be adopted on Friday, agerpres reports.

"It was a proposal supported by the Minister of Finance with the reduction of these ceilings from 1 million euros to 500,000 euros. It is a calculation made by the Ministry of Finance and provides an amount to the state budget estimated at 300 million lei, with the argument being that the decrease will allow grants to be provided to SMEs, so that they can benefit from compensation and development in future projects. The details are currently undergoing a transparency procedure, and the ordinance will be adopted tomorrow, with discussions to follow in Government and maybe modifications," the Prime Minister stated in Craiova on Thursday.

According to the draft GEO put up for debate on the website of the Ministry of Finance, the revenues threshold up to which a company can be classified as a micro-enterprise will be reduced next year from 1 million euros, as it is now, to 500,000 euros, this being a condition assumed by Romania through the National Recovery and Resilience Plan.

Nicolae Ciuca attended, on Thursday, the signing of the agreement for the extension and modernization of the Craiova International Airport, a project financed from European funds, through the Large Infrastructure Operational Programme.