Small enterprise income tax to increase

This tax presently stands at 2 percent, a value set in January 2007, and is scheduled to rise progressively it reaches 3% in 2009.

According to the law, a small enterprise is a judicial entity whose income does not exceed €100,000, has 1-9 employees, and whose share capital is held by individuals and legal entities, other than the state, local authorities and public institutions.

The tax will be calculated and paid each quarter, and small enterprises must file their income statement by the payment due date.