New bill in Romania: Supermarkets earning over EUR 3 mln should pay extra taxes

A group of MPs want to introduce an additional tax for the supermarkets that make more than EUR 3 million in net profits, according to a draft bill submitted to the Senate. The supermarkets should pay the normal tax on profit of 16%. Besides this, they should pay an additional tax of 0.5% of the profit that goes over EUR 3 million, and 1.2% of what they earn over EUR 50 million per year, according to the draft. The MPs argue that the big retailers make big profits in Romania and pay low taxes whereas the businesses of the small retailers are closing down. The deputy who initiated this law draft has worked seven years as a shop manager, according to Digi 24 news station. editor@romania-insider.com