Tax

What do you need to know before dealing with transactions with non-residents?

This article aims to bring the necessary clarifications useful for all parties involved in transactions with non-residents before their implementation, in order to prevent potential additional costs, fines and penalties that may occur due to non-compliance with applicable regulations. Thus, by transactions with non-residents we refer to any type of

Notice upon submitting the declaration upon real beneficiary

Due date for submitting the declaration of the real beneficiary for companies incorporated before Law 129/2019 entered in force is November 1, 2020. The following companies are not obliged to submit the declaration: company listed on a regulated market that is subject to disclosure requirements consistent with Union law or subject

Facilities for employees and employers

Changes regarding the payment of the Disability Fund: Law no. 193/2020, published in the Official Gazette no. 767 of 21 August 2020 amends art.78 paragraph (3) of Law no.448 / 2006, gives employers the opportunity to choose one of the following options, regarding the payment of the disability fund, to the state: to

Tax exemption for Intra-Community supplies of goods

As a result of the recent legislative changes, we would like to bring to your attention the new set of documents necessary for the VAT exemption that we warn you to have for any intra-community delivery. By intra-Community delivery we mean a delivery of goods which are transported from one

Romania: Non-reimbursable Funds

There are some Good News about Money to come for several categories of business in Romania. Microgrants of 2,000 Eur for free-lancers and companies without employees; Working capital grant, equivalent of 15% of turnover, up to 150.000 Eur, for some companies affected by pandemic crisis, committed to continue their activities for

Emergency Ordinance no. 92/2020 for the establishment of active support measures for employees and employers in the context of the epidemiological situation caused by the spread of the SARS-CoV-2 coronavirus, as well as for the amendment of some normative acts

Partial settlement of salary costs – recovery from technical unemployment Starting from June 1st, 2020, employers affected by technical unemployment, both subsidized and unsubsidized according to the provisions of GEO 30/2020 will benefit, for a period of three months, from the settlement of part of the salary, supported from unemployment

Emergency Ordinance 70/2020 on the regulation of certain measures starting with May 15, 2020

Measures adopted starting with May 15, 2020, in the context of the epidemiological situation determined by the spread of SARS-CoV 2 coronavirus: the granting of the unemployment indemnities provided by art. XI and art. XV of GEO no. 30/2020 is extended for the period between the termination of the state

The government has approved the tax amnesty proposed by the Ministry of Finance for interest, penalties and other accessories due to taxpayers who will pay the main arrears until December 15, 2020

The government is supporting the business environment affected by the Covid – 19 crisis, approving the tax amnesty for interest, penalties and other accessories owed by taxpayers. The measure aims to collect latest on 15th of December 2020 the outstanding budget obligations as at March31st, 2020, as well as budget

Submission of Declaration regarding the beneficial owner

For the year 2020, the companies incorporated before 21.07.2019, under the obligation of submitting the declaration upon beneficial owner according to law 129/2019, shall submit one declaration within 15 days from approval of balance sheet, that will cover both the obligation regulated in art 62 (1) of the above law

Law no. 19/2020 on granting parents free days for the supervision of children, in the situation of temporary closure of the educational establishments

Law no. 19/2020 published in the Official Gazette on March 14, 2020 provides for the granting of free days to one of the parents for the supervision of the children, in the situation of temporary closure of the schools where they are enrolled, as a result of the extreme situations

Tax