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Bogdan Nastase
Jul 19, 20232 min read
>EUR25m/year? HNWIs under the survey of ANAF
Romanian tax residents with wealth > EUR 25 million will be notified by the Tax Agency ANAF to ensure voluntary tax compliance


Bogdan Nastase
Jun 29, 202328 min read
Romanian Chart of Accounts in Romanian and in English
Romanian Chart of Accounts in Romanian and in English

Bogdan Nastase
Jun 8, 20232 min read
A solution for shareholders who fight over access to company documents
One of the most debated subjects when shareholders start having arguments is the right of access to company documents.

Bogdan Nastase
May 22, 20231 min read
What is the structure of the Companies Law 31/1990?
Many of the questions appearing when doing business in Romania find answer in the Companies Law 31/90. Let’s get familiar with its structure


Bogdan Nastase
May 8, 20232 min read
Fines for not declaring agricultural and food inventories
Failure to comply with the obligation to report monthly on the inventories of agricultural and food products constitutes a contravention

Maria Piroi
Apr 28, 20234 min read
What to do when legislation is unclear
Easy: ask for an Anticipated Tax Solution. For EUR 5000, the Minister of Finance herself will sign a fiscal solution to make it all clear

Bogdan Nastase
Apr 26, 20231 min read
Before paying the first invoice to a Romanian company
Due diligence is a must: I need to do my homework or I risk having surprises. The supplier might be inactive, or with its VAT code cancelled


Bogdan Nastase
Apr 12, 20231 min read
CSR News
On January 5, 2023, the Corporate Sustainability Reporting Directive (CSRD) entered into force. First set of standards by mid-2023 (EFRAG)


Maria Piroi
Feb 13, 20234 min read
Medical leave ➡️ lose micro tax status
⚠️ Attention administrators of micro-companies with one employee who goes on medical leave. You risk losing the micro-company tax status

Maria Piroi
Feb 12, 20231 min read
Certified tax forms ➡️ less risk of a tax inspection
Romanian Tax Procedure Code, art. 104: "the certification of tax forms by a tax advisor is an evaluation criterion in the risk analysis"


Bogdan Nastase
Jan 10, 20239 min read
A clean tax file (=ro. cazier fiscal) is a must
Facts (crimes, contraventions) for which information is entered in the tax file of taxpayers. Why it is important


Bogdan Nastase
Oct 23, 20221 min read
GEC invited to present on e-Commerce at the Czech Embassy in Bucharest
GEC Team guest speaker at the Bucharest Day of e-Commerce. The event took place at the Czech Embassy in Bucharest, on 20 September 2022.

Bogdan Nastase
Jul 19, 20221 min read
How to hire an EU citizen in a Romanian company
An EU citizen benefits of the same labour rights in Romania as a Romanian citizen. Therefore, a work permit authorisation is not necessary.


Bogdan Nastase
Jul 11, 20222 min read
From 1 July 2022: mandatory electronic invoicing RO e-Factura for B2G
Starting with July 1, 2022, B2G invoicing is obligatory through the RO e-Factura system. Let's see how it works in practice!

Maria Piroi
Apr 9, 20212 min read
Exit business. What about VAT?
Dividing business raises flags for the Tax Agency ANAF because of the VAT implications. Liquidating business also involves a VAT check.

Bogdan Nastase
Apr 8, 20215 min read
How (not) to lose the VAT number
Expired office rent contract, expired administrator’s mandate, neglecting the 6-months rule, becoming a high risk taxpayer

Maria Piroi
Apr 6, 20216 min read
VAT inspection: what to expect
Background info.
How long will it take?
Which documents will I be asked to present?
What is the result?

Maria Piroi
Apr 5, 20213 min read
Before asking for a VAT refund
Basic conditions, mandatory preliminary cross-checks and VAT refund advice for a business in Romania

Maria Piroi
Apr 5, 20212 min read
Who benefits most from the system TVA la încasare? (=en. cash-basis VAT)
The VAT system la încasare is very advantageous for service providers, who usually have low expenses and do not have much VAT to deduct

Maria Piroi
Apr 5, 20212 min read
TVA la încasare (cash-basis VAT): practical details
I will pay VAT only after I receive the money from my clients. At the same time, I can only deduct VAT from suppliers after paying them

Maria Piroi
Apr 2, 20212 min read
TVA la încasare vs TVA la facturare: what is the difference?
TVA la incasare is due when I receive the money I invoiced - and TVA la facturare is due when I invoice

Maria Piroi
Apr 2, 20211 min read
Monthly VAT vs Quarterly VAT: what is the difference?
The difference is given by two main factors: revenue and intra-community acquisitions of goods

Maria Piroi
Apr 2, 20216 min read
VAT in the Romanian trial balance: alerts and triggers
VAT-related warning flags and triggers for fines, penalties and charges, visible in a Romanian trial balance


Bogdan Nastase
Apr 2, 20212 min read
Check VAT code Romania: how to verify a Romanian company's VAT number
According to the ECJ, checking if a Romanian supplier is VAT-registered is not mandatory. However, in certain cases it may be useful.
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