Tax inspections have recently been carried out at the level of several Romanian transporters, resulting in the reclassification and taxation of the daily allowances as salary income. In the context of recent tax inspections, we recommend that companies operating in the transport sector undertake a thorough analysis to determine whether they are at [...]
Benefits of assigning new life spans for de fixed assets. A valuation professional may be dealing with assigning new life spans for the fixed assets on the occasion of their revaluation, resulting higher net profits and implicitly higher amounts to be distributed to the shareholders as dividends.
The tax code, the tax procedure code, the Law of incorporation of commercial enterprises, the tax fraud law and all other economic laws will be part of the new Economic Code.
This shows how strongly is the mode of doing business in Romania related to the avoidance to pay taxes and not to development solutions.
Situtions presented in various industries: agribusiness, food industry, real estate developers, etc.
Thus, many companies found out that they declared and paid taxes for years for various buildings that do not qualify for the definition of buildings. Thus, in order to regulate this situation, they turn to tax consultants and evaluators in order to avoid potential conflicts with local councils on this matter.
Thus, the management of many of them turn to consultancy companies for comprehensive analyses of the industry, of competitors and their position with respect to the market, as decision tools in the process of streamlining the activity.
Romanian companies must take into consideration documenting all intra-group transactions, irrespective of their value. Otherwise, the tax authorities may consider the transfer pricind documentation incomplete and sanction the company accordingly (by applying finesand, the most significantly, by estimating the amount of transfer prices).
Are taken into account amendments regarding the tax on the income of micro-enterprises, the income tax, the compulsory social contributions and the value added tax.
Tax audits are announced for all categories of taxpayers (large, medium, small) in all fields of economic activity (including the financial – banking one).