FinMin Teodorovici announces plans to issue Tax Code amendment Emergency Ordinance next week

Finance Minister Eugen Teodorovici announced plans to introduce an emergency ordinance to amend the Tax Code, given that OUG 79/2017 that also deals with the Tax Code is still under Parliament debate.

"Debates are ongoing at the Lower House Budget and Finance Committee on [OUG 79/2017]. As a member of the government I can tell you that next week we'll try to introduce an emergency ordinance amending several aspects of the Tax Code in a beneficial way for the economy, plus some amendments from the other piece of regulation. The most important one refers to the 1-ml euro cap under which companies can opt whether to pay profit or turnover tax, of course provided that they cumulatively meet two requirements: an equity capital of 45,000 lei and at least two employees. This is the most important element, because these companies need to register this way or the other by March 31," Teodorovici said while on a working visit to Dambovita County together with PM Viorica Dancila.

The FinMin also voiced hope that the draft regulatory act will be posted on the website of the Finance Ministry by Friday at the latest.