The Ministry of Finance could collect an additional RON 6.2 billion to the state budget by applying the minimum turnover tax, Daniel Anghel, Partner, coordinator of tax and legal services at PwC Romania, said on Friday."Of all the changes, I would say the most important is the minimum turnover tax, which, as you can see, will have the biggest impact. It's an estimate I made together with my colleagues. You heard, the taxation of turnover is an almost non-existent practice in developed countries, precisely because the size of the turnover does not automatically mean similar profits. Profit margins differ, obviously, from one economic sector to another, but also depending on the economic context. According to our estimates, you see, there will be 756 companies eligible to pay this turnover tax, 20 of which are credit institutions, and 335 companies would continue to pay 16% profit tax. The amount we estimate that the Ministry of Finance will collect as an extra by applying this tax, will be RON 6.2 billion in addition to the state budget", said Daniel Anghel, at the "Get ready for the fiscal new wave" conference, organized by PwC Romania.He mentioned that these estimates take into account only the balance sheet figures of the companies, as they were published in 2022 on the website of the Ministry of Finance, not the total revenues provided by the draft law, which, in certain situations, can be even higher.According to the representative of the consulting company, the turnover tax, as well as the consequences we can expect, will slow down the rate of economic growth in a volatile context anyway. It discourages investments, especially those undertaken by companies in the short and medium term.According to him, we have a collection that, unfortunately, places us at the bottom of the ranking in the European Union.
NN, the leader of the life insurance and private pensions market in Romania, received the Top Employer 2025 certification for the seventh consecutive year. NN ranks second among top employers in Romania, up from fourth place last year as a result of its solid people-centric HR strategy, and NN Group ranks seventh in Europe based […]
Calvin Klein Inc. today announces its return to the official NYFW calendar to present Veronica Leoni’s debut Calvin Klein Collection for Fall/Winter 2025. It will be an intimate showing of both women’s and men’s looks and will take place at 12:00 PM on February 7, 2025. “Calvin Klein is thrilled to return to the global stage […]
Ten non-governmental organizations in Romania have issued a joint letter criticizing the executive for the emergency ordinance adopted on Thursday, January 16, which provides sanctions, including a turnover tax, for social media giants that fail to obey rules regarding electoral ads. Another government measure under fire from the opposition limits voting in the diaspora according […]
Dacia, part of the French Renault group, will launch several electric models to compete with Chinese brands for the affordable EV car market in Europe. The first electric model will be the next Sandero, which will appear sometime at the end of 2027, the brand's director, Denis Le Vot, said on Thursday, according to Reuters. […]
Happy 2025, dear Insiders, may it be a good year! And let it start with classics, some universal, some underground. Italian director Federico Fellini is one of the biggest names in the history of the medium. To say he was very influential is an understatement. He has his own adjective (Fellini-esque) while scenes from his […]
Romanian national airline Tarom announced the establishment of a new company, Tarom Tehnic, dedicated to providing maintenance and repair services for civilian aircraft, specializing in Boeing, Airbus, and ATR models. The new company is expected to generate revenues of up to EUR 10 million in its first year of operation, according to estimates from the […]
