The companies must submit the statement to the Trade Registrar as following: • Each year, within 15 days after the financial statements are submitted • Each time the UBO list is changed, within 15 days after such change occurs. • When a company is registered. The companies having only private shareholders are NO longer...
The main fiscal measures brought by GEO 19 are the following: The tax exemption applied to taxpayers obliged to pay the specific tax on certain activities is extended for a period of 90 days starting with April 1, 2021; The application of fiscal facilities for early education (recovery of an amount of...
In the content of the order, the phrase “ceiling of RON 2.250.000” was modified with reference to “the ceiling provided in art. 282 of the Tax Code” respectively RON 4,500,000. The taxable person who chooses to apply the VAT collection system starting with the date of registration for VAT purposes must...
Rule to modify the Tax Code was approved and includes the followings: Turkey is no longer listed as non-cooperating country and implicitly the expenses generated by transactions with Turkey are deductible (starting with January 1, 2021); The turnover generated from the construction activity, relevant to apply the tax incentives for constructors, includes...
The registration for VAT purposes of the taxpayers with the headquarters of the economic activity in Romania, if they carry out or intend to carry out taxable operations, is done in the following situations: before carrying out the operations, if the taxpayer declares that he is going to achieve a turnover...
The Order 58/2021 which stipulates that the financial statements for 2020 will be submitted within 150 days from the end of the financial year (May 31, 2021), in the case of companies, and within 120 days from the end of the financial year (4 May 2021), in the case of...
The Government issued the Decision no. 4/2021 which regulates the minimum gross salary guaranteed for payment. The minimum gross wage will increase to 2.300 lei starting with January 1, 2021, compared to 2.230 lei as it was in 2020. The minimum gross salary differentiated for the positions that require a level of...
Two of the most recent changes in the Tax Code are postponed to 01.01.2022: 1. The full deduction of the provision for certain bad debts 2. The increase of the value of houses that reduced VAT quota (5%) applies to (the new value is EUR 140,000). The provisions of Ordinance 69/2020 regarding the...
50% of the employee's salary, but not more than RON 2,500 per month is granted to entities to employ full time personnel for an indefinite period, from the following categories of persons: - persons whose age is more than 50 years and whose labor contract have ceased for reasons not attributable...
GENERAL PROVISIONS • The concept of “place of effective management” is amended to clarify the circumstances where the place of effective management of a legal entity is in Romania. Relevant procedures are regulated accordingly. • The definition of related parties was clarified for the situation where a third person directly or indirectly...
