EnglishThe National Council of Private Small- and Medium-Sized Enterprises in Romania (CNIPMMR) is asking the Government to extend the re-invested profit tax exemption to a total of at least five years, instead of the initial plan to have the exemption in place until 31 December 2010.
"The deadline of 31 December 2010 is not satisfactory to us as the small- and medium-sized enterprises will not have the time to prepare the technical project required for receiving the incentive. This is why we believe that a period of five years minimum would be optimal," said CNIPMMR Chairman Ovidiu Nicolescu.
According to him, there are people "without an economic vision" in the Ministry of Finance, who cannot anticipate the effects of their decision and cannot understand contemporary economics.
CNIPMMR Vice Chairman Florea Pirvu concluded that the decision not to tax re-invested profit did not help small- and medium-sized enterprises directly as it was primarily beneficial to major companies, making investments in machinery and technology.
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