The definition of microenterprise is amended as follows:
⮚ Regarding the condition of ownership by associates/shareholders,
- Starting from January 1, 2024, if during the year, any of the associates/shareholders of a micro-enterprise owns, directly or indirectly, more than 25% of the value/number of securities of participation or voting rights both in the present entity and in other micro-enterprises as well, the associates/shareholders must decide until March, 31 inclusive the next fiscal year, only one micro-enterprise that falls under the scope of microenterprise.
- For qualification under the definition of a micro-enterprise, the timely submission of annual financial statements is also introduced as a requirement. Otherwise, it becomes a payer of profit tax starting from the quarter in which any of these conditions were no longer met.
- In terms of the Euro 500,000 income threshold, clarifications are made to indicate that this limit is calculated considering the income combined with the income of the related enterprises according to Law no. 346/2004.
- Entities applying the microenterprise tax regime, are no longer eligible for the tax credit related to sponsorships and the acquisition of fiscal electronic cash registers, starting from 2024.
- The insurance and reinsurance intermediaries could be organized as microenterprises if the revenues from the distribution of insurance/reassurance activity do not exceed 15% of total generated revenues.
- Until March 31, 2024, the individuals who own more than one microenterprise should decide which one will remain micro and which ones will become tax on profit payers.
- The entities that will qualify for micro during the year 2024, will submit their previous year’s statutory financial statements by March 31, 2024