The PSD-PNL coalition wants to increase taxes on large companies, the so-called tax on transnational companies. Compared to the version originally announced, they now have a different idea, according to a new tax increase project obtained by HotNews.ro.

The tax increase project has been in effect since September 6– click to open

According to the document, this is a minimum turnover tax that will apply to companies with revenues exceeding €50 million.

This will also apply to those with losses.

Basically, it comes with a mathematical formula that you also see in the document.

For taxpayers with a rate of return below 3%, the tax will be 0.5%.

For those with more than 3%, it will be 1%.

But that 0.5% and 1% is part of the built-in formula.

According to official sources, PSD and PNL have not yet reached a consensus on the taxation of large companies.

Inflating banks by 1% of turnover

In addition to income tax, banks will have to pay turnover tax, calculated at the rate of 1% of turnover.

Sales tax is calculated, declared and paid on a quarterly basis and is added to the advance payments due/due/income tax, as the case may be. To determine the tax result, sales tax is a non-deductible expense.

According to the document, the turnover tax is calculated on a cumulative basis from the beginning of the reporting year. In the case where the turnover tax is paid quarterly, it is defined as the difference between the turnover tax calculated by the cumulative total since the beginning of the financial year and the turnover tax payable for the period preceding the calculation.

If a taxpayer owes sales tax, the amount of foreign tax credit, exempt or reduced income tax, sponsorship/patronage, and other amounts that are deducted from income tax in accordance with current legislation are not deducted from it. .