We are taking this opportunity to inform you of the legislative provisions included in the Emergency Ordinance no. 153/2020, which allows taxpayers to benefit from discounts between 2% and 15%, depending on the net asset position as reflected in the annual financial statements.
The discount is applicable to the annual corporate income tax/microenterprise tax due, subject to the fulfilment of the following conditions related to the net asset position:
- The net assets are positive;
- The adjusted net asset position increases on an annual basis with a minimum percentage.
Please refer to the table below for details on the system of discounts, which can be cumulated, depending on the fulfilment of the applicable conditions:
In the above-mentioned context, we can assist you with the following:
- Assessing your particular situation to determine whether a tax discount can be applied;
- Assessing the evolution of the net asset position and subsequently, the related tax discounts that the company may apply under certain scenarios;
- Assessing the potential measures for increasing the net asset position to apply higher tax discounts.
In case this is of interest to you, please do not hesitate to contact us.