REGULATION OF THE INCOME TAX OF MICROENTERPRISES

Marin Ciumag and Ciumag Anca
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Ciumag Anca: NATIONAL AGENCY FOR FISCAL ADMINISTRATION BUCHAREST

Annals - Economy Series, 2024, vol. 1, 126-131

Abstract: Entities owe profit tax or microenterprise income tax, direct taxes applied on the income earned. A microenterprise income tax payer is a legal entity that opts and fulfills a series of conditions, the most important being the turnover, which must not exceed the equivalent in lei of 500,000 euros. The microenterprise income tax is declared and paid quarterly, up to and including the 25th of the month following the quarter for which the tax is calculated, by applying the rate of 1% or 3% on the incomes that constitute the tax base. Late payment attracts interest and late penalties that are determined according to the amount owed, the level of interest, the penalty and the number of days of delay.

Keywords: tax; income; microenterprise; interest; turnover (search for similar items in EconPapers)
Date: 2024
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