We make periodical reviews of the treatment applied to various income and expense items and we offer advice in understanding legislative provisions and identifying the optimal solutions for your activity.

Our team can offer you assistance in the following specific areas related to corporate income tax:

Our services for VAT include:

Our specialists will offer you following services:

  • evaluate the client activity
  • acknowledge internal procedures, both accounting and IT
  • analyze the sensitive fiscal aspects and previous fiscal decisions having impact on current activity
  • approach issues like planning the data collecting processes, information processing, split the responsibilities between our team and the client one, thus resulting a clear and transparent management process
  • executing, issuing, archiving and reviewing invoices
  • preparing, signing, reviewing and submitting fiscal statements and periodical reports
  • preparing and filling the VAT ledgers
  • support during fiscal inspections regarding VAT; assistance in case of litigation
  • payment instructions or management
  • review of invoices and other fiscal documents used for calculating corporate income tax
  • review of transaction from the Romanian laws point of view and opposite to international conventions for avoiding double taxation
  • preparing and completing the VAT registers
  • elaborating documentation regarding corporate income tax / capital gain – preparing and submitting statements for tax on profit, submitting the fiscal residence certificates for non-resident clients, interface with brokers and custodians
  • submitting refund requests for capital gain paid extra
  • providing instructions regarding the tax payment procedure, communicating with banks where the clients has opened accounts, as well as with Romanian fiscal authorities
  • ensuring client representation in front of Romanian authorities and related correspondence

Our company is able to provide you with services of fiscal representation, by assuming the fiscal representative role on behalf of our non-resident clients with respect to procedural obligation related to VAT. In this mission we rely on a detailed knowledge of Romanian fiscal system and on an excellent dialogue with Romanian fiscal authorities.

Our fiscal representative mandate consists in:

This special line of services is address to companies residing in European Union as well as outside the EU, companies not registered for VAT purposes within Romania and having no obligation to register, according to Romanian law, but desiring to recover VAT related to acquisitions from Romania, according to European Directives (8-th, respective 13-th in Romanian legislation).

In order to optimize the VAT refund process, we collect documents needed for sustaining the refund request, we revise it to insure their compliance with Romanian related legislation, we elaborate the VAT claim and submit it to fiscal authorities. We are also supervising the process of analyzing the request by the Romanian fiscal authorities aiming to obtain a favorable and prompt response. The efficiency of our methods is highly appreciated by our clients and also by the authorities.

This package of services is addressed to companies already registered as VAT payers in Romania, wanting to claim for the refund of negative amounts of VAT registered into the specific statements. We offer to our clients assistance and support, based on our long-term experience and expertise, in order to obtain the refund of the requested amounts.

Our services imply an initial review of all operations within the VAT area, in the view of specific legislation, in order to identify potential risk. We also offer continuous assistance during fiscal inspection regarding potential delicate issues, subject of latent dispute with fiscal authorities and also support in elaborating contingent contestation against decisions of the authorities, if the case.

Throughout these services, we intend to offer support to our clients, in order to identify their eligibility for a total or partial refund of the withholding tax, paid to state budget, related to incomes realized in Romania by non-resident companies from commissions, royalties, dividends or various services. We substantiate our services on our excellent knowledge of Romanian and EU legislation, Treaties for avoiding double taxation and significant regulations.

We start by reviewing payments made by a Romanian company to a non-resident entity representing dividends, commissions, royalties, services, and their fiscal treatment from the withholding tax point of view. The purpose of this revision is to identify possible fiscal treatments more favorable, facilitating the claim for the refund of tax paid in excess. As soon as this stage is completed, we elaborate all documentation needed for claiming the refund and we also are ready to offer support at any moment in case of fiscal inspection.

Our team offers assistance during fiscal inspections, whether announced or unexpected, made by the Romanian fiscal authorities, aiming to minimize the negative impact of some possible decisions. That kind of services offering is based on our vast experience in approaching that category of matters as well as our long collaboration with Romanian fiscal authorities.

We can offer guidelines during the whole fiscal control, facilitating the process and staying in direct communication with the authorities, on your behalf, to insure a proper manner for the evolution of fiscal inspection, as well as the limitation of possible fines and penalties, if the case.

Our support-services during fiscal inspections consist in:

Our services related to real estate investments, during their various development stages include:

Considering the high number of taxes applicable in Romania, there are many companies failing to fulfill all their obligations, being thus subject to local tax inspector audits which may result in additional taxes, fines and penalties. Such unpleasant situations could easily be avoided by addressing to our professional team advice.

Our team can assist you with:

The process regards the valuation of fiscal risks associated to the company to be acquired, during the revised period. The fiscal due diligence process is carried out based on agreed procedures, on information obtained during the meetings with the representatives of target-company and after the analysis of a specific set of documents (previous fiscal reports, statements for tax on profit, VAT and other fiscal statements). The mission is finalized by drawing out a summary of the fiscal aspects revealed, together with a detailed report on associated risks and their quantification.

For the individuals owning complex investment portfolios, with large number of controlled entities or minor possessions, the management of all those might become a challenging exercise, considering that entrepreneurial decisions may possibly have financial, social and even reputational impact. Beyond the process of establishing and developing a business, its longevity it is very important as well. When managing multiple companies from a group becomes too complex, the most important aspect is to maintain and organize the portfolio, in order to maximize the profit obtain by the individual and to redirect it to the areas of interest for the investor, for accumulation, investing and re-investing, or changing the concerning zone.

There are many circumstances when investment decisions are influenced by fiscal aspects, which can significantly increase or diminish the estimated output. Any investor must build his decisions starting with a clear overview of the financial and fiscal environment from the countries where he would invest. Experts from Kreston Romania will follow you in every stage of the investment decision process, enabling necessary premises to insure your comfort.

Our services are oriented towards:

Values that our services are based on are:

We offer not standard but custom-made solution, adjusted for every client, and for achieving this we invest time in our relation with the client. Before making any recommendation we want to comprehend individual circumstances and our clients’ priorities. We are an independent consulting company, having no conflicts of interest from audit or juridical point of view, aspect that allows us to have a flexible approach. In the mean time, being a member of the International Network – Kreston enable us to offer integrated solution from the international and multi-jurisdictional point of view, covering near our colleagues from abroad any significant aspect in the specific activity of every client.