Romania’s Govt. approves tax exemption on reinvested profit

The Romanian government has approved the emergency ordinance under which the tax exemption on reinvested profit will be applied from July and kept, according to the project, until end-December 2015. Under the project, the profit re-invested in production and/or purchase of technological equipment , machines and work equipment - used to obtain taxable revenues, is exempt from tax. The Association of Business People in Romania has asked the Government to support tax exemption for reinvested profit and a cut in salary taxes in its negotiations with the IMF. editor@romania-insider.com