LEGE No. 55 of 1 August 1991 to amend Article 5 of the Law no. 12/1991 on corporate income tax
ISSUER
PARLIAMENT
Published in OFFICIAL MONITOR NO. 167 of 14 August 1991
The Romanian Parliament adopts this law + Article UNIC Article 5 of the Law no. 12/1991 on corporate income tax is amended and will read as follows: "" ART. 5. -The tax-paying units established starting with January 1, 1991 are exempt from corporate income tax, as follows: a) the units of industry, agriculture and construction, for a period of 5 years from the date of establishment; ... b) units in the field of exploitation of natural resources, communications and transport, for a period of 3 years from the date of establishment; ... c) service providers, for a period of 1 year from the date of establishment; ... d) units with commercial profile, for a period of 6 months from the date of establishment. ... Small businesses and for-profit associations established, according to Decree-Law no. 54/1990, until December 31, 1990 benefit from the exemptions provided in lett. a), b), c) and d) above starting with the 1st of the month following the entry into force of this Law. The provisions of lit. a), b), c) and d) of this Article shall not apply to autonomous regions and commercial companies with full or majority state capital. " This law was adopted by the Assembly of Deputies at its meeting on 26 July 1991. p. PRESIDENT OF THE ASSEMBLY IONEL ROMAN This law was passed by the Senate at its July 31, 1991 meeting. p. SENATE PRESIDENT VASILE MOIS Pursuant to art. 82 lit. m) of Decree-Law no. 92/1990 for the election of the Romanian Parliament and President, promulgam the Law on modification of Article 5 Law no. 12/1991 on profit tax and we have its publication in the Official Gazette of Romania. ROMANIAN PRESIDENT ION ILIESCU ------------------
