The difference is given by two main factors: revenue and intra-community acquisitions of goods

VAT-related warning flags and triggers for fines, penalties and charges, visible in a Romanian trial balance

According to the ECJ, checking if a Romanian supplier is VAT-registered is not mandatory. However, in certain cases it may be useful.

Four cases: 1) before or 2) after revenue of RON 300k, 3) intra-EU transactions, 4) e-commerce

Getting the VAT code has several advantages: I will be able to do business with companies in the EU and get back VAT paid to Romanian firms

In its latest report, the Environment Fund Administration AFM mentions almost 150 tax inspections in a year, with a value of 50 million euro

The Accounting Law states that not filing the annual inventory is a contravention of the director, with a penalty between 400 and 5000 RON.

Equity represents the added value of a company, the results of the effort of my work from the beginning of the company to the current date.

An expense is business-deductible only if it is actually related to the business, is properly documented - and is recorded in the accounting

The Annual Financial Statements are like a business card: they represent the company in front of an investor, a bank, a public authority.

The trial balance - or, for short, the balance - represents the mirror of a company’s activity. All the operations reach it.

What to do before opening a business bank account: ASDC. Analysis➡️Shortlist➡️Discussions➡️Checklist. How to open the account afterwards