Company BettyBoop SRL, a small microenterprise, asks you to compute its income tax payable by for the year 2019. The trial balance is shown below. The exchange rate was 5 lei/euro as at 31.12.2018. The company had 2 employees/quarter.

In the first quarter, the company bought a number of cash registers 10,000 lei.

From 2016 when it was a profit tax payer, the company reported a fiscal loss of 100,000 lei. In 2017, when it became a microenterprise, the company reported an accounting loss of 30,000 lei.

Amounts are presented for EACH quarter separately.

	Q1	Q2
Sales of goods	2,700,000	2,550,000
Consultancy revenue	225,000	300,000
Account 709 (debit side)	-15,000	-45,000
Inventory variation (account 711)	90,000	30,000
Reversal of impairment for inventory	20,000	40,000
Gains from selling fixed assets	480,000	55,000
Total revenue	3,500,000	2,930,000
Cost of goods and services sold	1,680,000	1,786,500
Salary expense	300,000	300,000
Social expenses	9,000	0
Protocol expense	3,000	0
Sponsorship	20,000	0
Total expenses	2,012,000	2,086,500
Accounting profit/loss	1,488,000	843,500

State the conditions for a company to owe income tax payable by a micro enterprise

Compute the tax payable for the first quarter.

Explain if, for the second quarter, the company is considered a micro enterprise or not.

Compute the tax payable for the second quarter.

In a Romanian taxation system