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A New Tax System For Romanian Tourism Industry?

Author

Listed:
  • Traian-Ovidiu Calota

Abstract

The enterprises from tourism industry may apply till the end of 2014 year one of two tax systems as follow: (i) either tax on income system – quota of 3% applied to taxable income if the income’s value is less than 65.000 euro; (ii) either tax on profit system for all other enterprises. The tax authorities intend to apply a 3rd system named "specific tax on certain activities". We chose to analyze this new tax system for the listed bellow three main reasons: (i) any enterprise – subject of paying tax on income or tax on profit – must analyze at the end of 2014 the new conditions mentioned by law in order to decide which tax system would be applied for the future period; (ii) for the activities distinctly mentioned in CAEN Code, e.g. hotels restaurant’ and bar’s activities, the tax amount is no longer computed based on profit or income , but – instead – tax amount is computed based on several factors such as: the number of beds from hotel or the surface of restaurant.

Suggested Citation

  • Traian-Ovidiu Calota, 2014. "A New Tax System For Romanian Tourism Industry?," Revista de Economie Mondiala / The Journal of Global Economics, Institute for World Economy, Romanian Academy, vol. 6(3), September.
    • Handle: RePEc:iem:journl:v:6:y:2014:i:3:id:2822000009237083
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    File URL: http://www.iem.ro/rem/index.php/REM/article/view/174/197
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    More about this item

    Keywords

    tax system; specific tax on certain activities; enterprise from tourism industry; tax on profit; tax on income;
    All these keywords.

    JEL classification:

    • H25 - Public Economics - - Taxation, Subsidies, and Revenue - - - Business Taxes and Subsidies
    • H26 - Public Economics - - Taxation, Subsidies, and Revenue - - - Tax Evasion and Avoidance
    • H32 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - Firm
    • L20 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - General
    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism
    • Q28 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Government Policy

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