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The Minister for SMEs and the Business Environment, Constantin Niţă, yesterday announced that reinvested profit will be exempt from taxes starting October, but in the beginning, this decision will only be on paper, according to press agency NewsIn.
The minister said that the coming into effect of this measure will not entail that all the companies that have a profit will be able to make investments straight away. "They won"t be able to, because we are talking about a tax that will have to be paid about three months from now", the Minister said.
In his opinion, such a measure can only become effective three months from now.
Talks about exempting reinvested profit from taxation have been around for a long time, as representatives of professional associations have repeatedly asked several governments to change the Tax Code in this respect.
On the other hand, Constantin Niţă, will discuss today with his Hungarian peer about supporting SMEs and the internationalization of their activity, taxation reform and decisions that would help mitigate the effects of the crisis and resumption of economic growth.
Constantin Niţă will lead Romania"s delegation which will participate in the IVth session of the Mixed intergovernmental Commission for cooperation between Romania and Hungary which will be held in Gyula.
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