Two hundred thousand Romanian companies are on the edge of bankruptcy

Thirty or thirty-five percent of listed companies in Romania will put an end to its activities because of the introduction of the flat-rate tax – states the President of the Chamber of Commerce of Bucharest.

Since May each firm must pay tax on on the basis of its business turnover with the value of 500 Euro to 10 thousand euros. According to the President of the Chamber of Commerce: In Romania there are 200 thousand companies which have no income and no employees on paper, but existing. In his opinion the government will use flat-rate tax for only a specific period of time because of the short-term goal is to whiten the economy and reduce tax evasion. According to trhe President of the Chamber the introduction of the flat-rate tax was necessary because 20 percent of the Romanian GDP comes from black economy – reports Menedzsment Fórum.