LEGISLATIVE FLASH
Romania : 2001-07-02
Creation of Romania Fund
According to the first article of the Emergency Government Ordinance on creation and use of the fund Romania, the Fund shall be created to promote the real image of the country aboard. The General Secretariat of the Romanian Government will administrate this fund. Its sources shall be: a) 1% payed by the taxpayers, which have an account in a Romanian bank. The incomes submitted to the tax are obtained from the export of goods manufactured by those taxpayers, directly or by errand, or from the partially taxation of the provided services. This share of 1% will be added to the tax provided by art. 7 (1) of the Government Ordinance no70/1994 on the income tax, as republished, with all subsequent modifications and competitions. This tax will be payed with the tax on profit.
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