IMPACT OF TAX CHANGES APPLICABLE IN 2018, ON THE CONSOLIDATED BUDGET

Monica Ocnean, Diana Marin

Abstract


Year 2018 is the year with the most spectacular legislative changes in the tax field in the last period. The "fiscal revolution" is the tax term used by more and more specialists, and the impact of these changes is directly reflected in the consolidated state budget. The legal basis is the updated Law 227/2015. All these tax changes have a significant impact on state budget revenues but also on livelihood budgets. The reduction of the tax rate on income from the salary from 16% to 10% has as a direct result a reduction of the revenues to the state budget. The share of income tax revenue in the total consolidated budget was 13% in the first quarter of 2017 and 9.9% in the same period of 2018. At the same time another important tax, ie VAT, remained at the level of 19%, which was modified in January 2017

Keywords


Law 227 of 2015; income tax on micro-enterprises; profit tax; personal deductions; current income

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References


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LUCRĂRI ȘTIINȚIFICE MANAGEMENT AGRICOL

ISSN print 1453-1410
ISSN online 2069-2307
(former ISSN 1453-1410, E-ISSN 2069-2307)

PUBLISHER: AGROPRINT Timisoara, Romania
PAPER ACCESS: Full text articles available for free
FREQUENCY: Annual
PUBLICATION LANGUAGE: English

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Banat`s University of Agricultural Sciences and Veterinary Medicine “King Michael I of Romania” from Timisoara
Faculty of Management and Rural Tourism
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