One of the projects included in the second legislative package for which the government assumed responsibility in parliament brings other amendments to the Fiscal Code, the most impactful one targeting corporate taxation. Although according to official statements and some interim versions of the project, the minimum turnover tax (IMCA) was to be eliminated and, in compensation, replaced with a so-called affiliate tax, in the final form the IMCA was maintained and restrictive provisions were added for the expenses of groups of companies. Despite the fact that the authorities found that the receipts from the IMCA were not at the expected level and that it affected investments, they kept it, with the new rule for affiliates to apply to companies that do not meet the volume criterion for the IMCA.
For more information, please see the Romanian version of the article, here.
