• TAXATION : TAX REDUCTIONS FOR CERTAIN TAXPAYERS

    TAXATION : TAX REDUCTIONS FOR CERTAIN TAXPAYERS

    17.04.2019

    At the end of 2018, the Government Emergency Ordinance no. 114/2018 introduced important amendments with a negative impact on the activity of some economic agents from various sectors (banking, energy, telecom). On 29 March 2019, the Government Emergency Ordinance no. 19 was published in the Official Gazette no. 245.
    Read More...
  • CENTRALIZED PUBLIC PROCUREMENT: NEW PROCEDURES

    CENTRALIZED PUBLIC PROCUREMENT: NEW PROCEDURES

    10.04.2019

    The centralized public procurement procedures, regulated as of 2008, could not have been implemented until recently as the enforcement norms for the GEO no. 46/2018 on set-up, organization and functioning of the National Office for Centralized Public Procurement (NOCPP) were not available.
    Read More...
  • NGOS - REQUIRED TO SIGN UP IN THE TAX AUTHORITY’S SPECIAL REGISTRY

    NGOS - REQUIRED TO SIGN UP IN THE TAX AUTHORITY’S SPECIAL REGISTRY

    10.04.2019

    As of April 1st, 2019, all non-profit organisations/ units of worship receiving sponsorships/donations/private grants from corporate taxpayers or benefiting from an allocation of up to 3.5% from natural person taxpayers’ income tax must be registered in the Special Registry of the tax agency.
    Read More...
  • PFA AND INDIVIDUAL ENTERPRISES: AVOID THE RISK OF REMOVAL

    PFA AND INDIVIDUAL ENTERPRISES: AVOID THE RISK OF REMOVAL

    10.04.2019

    According to the provisions of the Law 182/2016, the Authorized Natural Persons (ANP) and the Individual Enterprises (IE) must submit with the Trade Registry an update request concerning the maximum number of activity categories stated in their incorporation documents. Such update request is to be filled and submitted latest on March 18th 2019.
    Read More...
  • SIMPLIFICATION OF BUREAUCRATIC PROCEDURES LINKED TO THE PUBLIC DOCUMENTS OF EXPATRIATES

    SIMPLIFICATION OF BUREAUCRATIC PROCEDURES LINKED TO THE PUBLIC DOCUMENTS OF EXPATRIATES

    12.03.2019

    EU Citizens living or working outside their home country will benefit from simplified bureaucratic procedures and will no longer be required to provide a sworn/ official translation of their documents issued in one EU country to the authorities of another EU country following the entry into force of a new EU Regulation of the European Parliament and of the Council on the 16th of February 2019 applicable in all EU member states.
    Read More...
  • VAT REGISTRATION: NEW SIMPLIFIED PROCEDURE

    VAT REGISTRATION: NEW SIMPLIFIED PROCEDURE

    28.02.2019

    VAT registration procedure for companies has been simplified as of 1st of February 2019, at least in certain specific cases. According to the Order of the President of the National Agency for Fiscal Administration (ANAF) no. 167/2019, which came into force on the 1st of February 2019, VAT registration can be done electronically on the same day as the submission of the registration file by the taxpayers for whom the application of VAT regime is optional.
    Read More...
  • ESTABLISHING A REPRESENTATIVE OFFICE

    ESTABLISHING A REPRESENTATIVE OFFICE

    28.02.2019

    Foreign companies wanting to deploy their activities on the territory of Romania may choose either to create a local entity, i.e. a branch office or a subsidiary, or to open a Representative Office having no legal personality. If the foreign company wishes only to “test” the Romanian market in the first instance, in order to see whether the sale of its products is of interest, then it is possible to establish a Representative Office of the foreign company, which will act as a sort of sales representative of the mother company on the Romanian market.
    Read More...
  • LEASE CONTRACTS: NEW REGISTRATION PROCEDURE

    LEASE CONTRACTS: NEW REGISTRATION PROCEDURE

    28.02.2019

    A new registration procedure of private lease contracts with the tax authorities entered into force a few days ago, after the Order no. 114/2019 of the National Agency for Fiscal Administration concerning the lease contracts registration procedure was published in the Official Journal no. 109/2019 together with the template and the content of “The lease contract registration application”.
    Read More...
  • PERMANENT OFFICE OR SUBSIDIARY?

    PERMANENT OFFICE OR SUBSIDIARY?

    28.02.2019

    Are you considering launching your activity on the international market, developing a new activity or rather opening a new production site? If you haven’t decided to establish a company incorporated under the Romanian law yet, you can choose from two legally and fiscally different structures, namely between a permanent office and a subsidiary. Choosing one of these structures depends on mother company’s strategy in the medium and long term.
    Read More...
  • FINANCIAL STATEMENTS FOR 2018: APPROVAL AND FILING

    FINANCIAL STATEMENTS FOR 2018: APPROVAL AND FILING

    31.01.2019

    (Français) At the beginning of each year, companies draft their accounts for the previous financial year. Is there any profit to distribute, reinvest or losses to cover? In order to gave an overall pictures, the companies’ accountants must draft the financial accounts, which must then be approved by the shareholders and filed with the Tax Authority, within certain deadlines, stipulated by the laws in force.
    Read More...
  • CHANGES IN TAX LAW IN 2019

    CHANGES IN TAX LAW IN 2019

    30.01.2019

    (Français) 2019 starts with several important changes in tax law, such as the increase of basic minimum gross salary, the implementation of the tax on financial assets for banks, the increase of cash contributions due by the electricity operators and for the electronic communications sector. New modifications are made concerning the regime of private pensions plan or the reverse taxation in VAT area.
    Read More...
  • ASSOCIATION OR FOUNDATION: WHICH ONE TO CHOOSE?

    ASSOCIATION OR FOUNDATION: WHICH ONE TO CHOOSE?

    30.01.2019

    (Français) You wish to start a charity, cultural, educational project or one in the interest of a community? Well, the choice of the legal structure is important for your project too. If you already decided that the creation of a company is not suitable for your project, then you can choose between the creation of an association or a foundation.
    Read More...