Romanian companies get 5-10% bonus for paying Q1 profit tax on time

All Romanian companies subject to profit taxation will get a 5-10% discount, if they choose to pay their taxes for the first quarter’s profits by the legal deadline, namely by April 25, finance minister Florin Citu has announced, News.ro reported.

This will apply to taxpayers, such as freelancers, that pay quarterly taxes based on projected revenues and expenditures, subject to adjustment at the end of the year according to minister Citu.

The small and medium sized enterprises, as well as the micro-enterprises (which pay tax on revenues instead of tax on profits), will get a 10% discount while the large companies will get a 5% discount, Citu explained.

For the taxpayers that operate a financial year (FY) different from the calendar year, the discount is extended if the tax levied on the profit realized in the January-March quarter is paid within the legal deadline, namely by June 25.

(Photo: Octav Ganea/ Inquam Photos)