⚠️ Attention administrators of micro-companies with one employee who goes on medical leave. You risk losing the micro-company tax status

Romanian Tax Procedure Code, art. 104: "the certification of tax forms by a tax advisor is an evaluation criterion in the risk analysis"

Facts (crimes, contraventions) for which information is entered in the tax file of taxpayers. Why it is important

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.

An EU citizen benefits of the same labour rights in Romania as a Romanian citizen. Therefore, a work permit authorisation is not necessary.

Starting with July 1, 2022, B2G invoicing is obligatory through the RO e-Factura system. Let's see how it works in practice!

Dividing business raises flags for the Tax Agency ANAF because of the VAT implications. Liquidating business also involves a VAT check.

Expired office rent contract, expired administrator’s mandate, neglecting the 6-months rule, becoming a high risk taxpayer

Background info. How long will it take? Which documents will I be asked to present? What is the result?

Basic conditions, mandatory preliminary cross-checks and VAT refund advice for a business in Romania

The VAT system la încasare is very advantageous for service providers, who usually have low expenses and do not have much VAT to deduct

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

TVA la incasare is due when I receive the money I invoiced - and TVA la facturare is due when I invoice

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

COVID-19 news from TIAG and other TAG Alliances members, ACCA, Harvard Business School and Harvard Medical School

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.