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ANTREC: The minimum tax will force boarding houses to operate on the black market

Autor: Dragos Serban

Publicat la data de 09 Apr. 2009 in: Stiri

The lump-sum tax, or the introduction of a minimum tax that all owners of boarding houses and small hotels will be forced to pay as of this year, will force many small entrepreneurs to file for bankruptcy or enter the black market, according to Romanian players in the field.
According to the latest information on the market, changes to the Fiscal Code would lead to the introduction of a minimum tax of 0.5 percent of the net sales of boarding houses and hotels, regardless if these are profitable or not. In case of a posted profit, owners would pay an annual tax worth RON 6,500.

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