Romania: Planning progressive Income Tax

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The Government of Romania is planning to replace the flat tax on corporate income with a tax on turnover and this could be effective as early as 2018.

The company revenues in Romania are currently taxed at a rate of 16%, but this could be replaced by a progressive tax on company turnover of 1 to 3%. The Government is also planning to delay the reduction of standard rate of value-added tax by 1% until 2019, which is currently taxed at 19%.

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