TAX CONSULTANCY

Our quality tax consultancy services are due to the experience gained in the numerous accepted challenges.

Our tax consultancy services comprise the following areas of specialty:

Consultancy in the field of direct tax:

  • corporate tax;
  • non-resident income withholding tax;
  • income tax and social contributions;
  • local tax and duties;
  • dividends tax.

Consultancy in the field of indirect tax:

  • added valued tax;
  • excise taxes;
  • customs duties.

The services provided by our transfer pricing team cover all aspects necessary to a company, from analysing existing transactions to assisting in discussions with the tax inspection team.

Preparation and update of the transfer pricing documentation file

We cover all stages required in the preparation and update of the transfer pricing documentation file, by analyzing the existing transactions and reflecting them in the related documentation. The process also involves identification of any risk area that may cause an adjustment in terms of transfer pricing.

Transfer pricing policy setting

Following the preparation of the transfer pricing file or of an analysis of ongoing transactions, we can offer suggestions in order to establish transfer pricing policies so as to eliminate or at least mitigate the identified adjustment risks.

Assistance for drafting and negotiating pricing agreements in advance

For planned future transactions with affiliated parties, we offer support services for drafting and negotiating pricing agreements in advance. Thus, the company may eliminate, for the transaction covered by an advance pricing agreement, the risk of adjusting related to transfer pricing.

Assistance during tax inspections

In addition to the above services, our team also provides assistance during tax inspections regarding transfer pricing discussions and the preparation of explanatory notes and / or additional statements requested by the tax inspection team.

Our reimbursement services paid to Romania are addressed to resident or non-resident customers. These services may consist of assistance in preparing the documentation required for VAT reimbursement and for the reimbursement of other taxes and fees.

Reimbursement of VAT for non-resident non-registered companies for VAT purposes

In the process of preparing the documentation required for VAT reimbursement for non-resident non-VAT customers, our team collects the documents on the basis of which the reimbursement request is being prepared, revises them from the perspective of the applicable legislation, and then assists the client in filing application for reimbursement to the competent tax authorities.
Further on, our team will follow the process of analysing the claim to the Romanian tax authorities.

VAT reimbursements for companies registered for VAT purposes

In the case of VAT reimbursements for VAT registered customers in Romania, our services involve a general overhaul of their transactions in terms of VAT regulations in order to identify potential risks and make recommendations for diminishing them.
We also provide tax assistance services during VAT tax audits.

The services offered include assistance during the tax inspections performed by the Romanian tax authorities, including the following:

direct communication with the Romanian tax authorities on behalf of the client and monitoring the correct conduct of the tax inspection process;
establishing the risks independently of the tax authorities and sending recommendations to the client to reduce them;
preparation and formulation of arguments and explanatory notes requested by the control bodies, as well as assistance in the final discussions.

Our team can provide advice to clients in a wide range of transactions such as corporate reorganization, mergers and acquisitions, real estate acquisitions, etc.

Our services include corporate reorganization consultations on tax restructuring, fiscal and financial due diligence to identify potential risk areas that could entail tax costs associated with such a reorganization process, but also to make recommendations in order to optimize the structuring of transactions.

Our team can provide advice to clients in a wide range of transactions such as corporate reorganization, mergers and acquisitions, real estate acquisitions, etc.

We offer tax review services, consisting mainly of a detailed analysis of the activities of our clients from the perspective of the Romanian tax legislation. We review the accounting records, analyse the tax documentation and how our clients fulfil their tax obligations. In the tax review process, the review underlying the revisions covers the most important tax issues, including:

  • reviewing and analysing the company’s tax statements, as well as the documents underlying them;
  • evaluation of tax risks in the period under review;
  • identifying the possibilities for recovering excess taxes paid to the state;
  • reviewing the way the tax obligations imposed by the law are fulfilled;
  • preparing a report on the identified tax risks and their quantification, where possible, as well as formulating recommendations to reduce identified tax risks.

We provide tax assistance in disputes with tax authorities about the preparation of administrative and legal appeals to the courts against decisions by tax authorities. Our tax dispute assistance services can include:

  • the analysis of the tax authorities’ decisions, of the factual situation, as well as of the tax aspects under debate;
  • preparing the arguments for the appeal on the basis of the analyses of the factual situation, of the applicable legislative provisions, as well as of the decisions issued by the tax authorities;
  • preparation of written appeal and representation of the client before the tax authorities in support of his/her case, as well as before the courts along with his/her lawyers.

Our services include tax administration assistance with regard to VAT and corporate tax (including in case of permanent headquarters). In the tax administration services, we analyze the transactions carried out by the company in order to establish their tax treatment, we check the documents underlying transactions and prepare comments on the identified issues.

Assistance on tax administration from the corporate tax perspective includes the following:

  • reviewing invoices and documents held by the company in connection with the operations carried out and which have been used in the calculation of the corporate tax;
  • reviewing or preparing and drafting corporate tax statements;
  • communicating the company’s payment obligations;
  • assistance during tax audits for corporate tax.

Assistance on tax administration from the VAT perspective includes the following:

  • reviewing the invoices and documents underlying the operations of the company, but also drafting and issuing them, as the case may be;
  • preparing, filling in or revising VAT registers as well as VAT returns;
  • communicating the payment obligations of the company;
  • assistance during VAT tax inspections.
  • Analysing customer requirements and objectives, evaluating their feasibility and providing assistance throughout the design, tender, execution and post-execution phase;
  • Keeping the client informed throughout the project of the progress and problems, budget variations and execution charts, and of other such issues considered relevant;
  • Identifying any existing or potential problems, disputes or conflicts and solving them by cooperating with all those involved in the best interests of the client;
  • Submitting time sheets and other data on control processes and costs to the client, including expected returns and any other relevant information;
  • Updating the project risk register with new risks as well as providing advice and remedial action on actual risks; this includes identifying any potential risks that may have an impact on the development budget and the program;
  • Client support on:
    • direct taxes (domestic and European regulations);
    • indirect taxes – VAT and excise duties (domestic and European regulations);
    • income tax;
    • industry specific taxation aspects.