25th: Tax Payment Deadline or Time for Money to be in the Treasury?
Don't make tax payments on the 25th. Instead, ensure your payments reach the Treasury by then. Missing this deadline could mean penalties.
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Bogdan Nastase
Jul 141 min read
First 30 Days of a New Business in Romania: Buying the Paper-based Inspection Register is (Still) a Must
Starting a business in Romania? Ensure compliance by obtaining the paper-based inspection register within the first 30 days of incorporation
Bogdan Nastase
May 123 min read
Understanding Romania's Double Taxation Avoidance Agreements: Insights from Official ANAF Resources
This article presents the official ANAF list of Double Taxation Avoidance Agreements and presents solutions to language discrepancies.
Bogdan Nastase
Dec 15, 20231 min read
Risk of confiscation in case of unauthorised activity
The new Law 296/2023 defines unauthorised activity as illicit, increasing risk of confiscation and fines
Bogdan Nastase
Jul 19, 20232 min read
>EUR25m/year? HNWIs under the survey of ANAF
Romanian tax residents with wealth > EUR 25 million will be notified by the Tax Agency ANAF to ensure voluntary tax compliance
Bogdan Nastase
May 8, 20232 min read
Fines for not declaring agricultural and food inventories
Failure to comply with the obligation to report monthly on the inventories of agricultural and food products constitutes a contravention
Bogdan Nastase
Apr 26, 20231 min read
Before paying the first invoice to a Romanian company
Due diligence is a must: I need to do my homework or I risk having surprises. The supplier might be inactive, or with its VAT code cancelled
Maria Piroi
Feb 13, 20234 min read
Medical leave ➡️ lose micro tax status
⚠️ Attention administrators of micro-companies with one employee who goes on medical leave. You risk losing the micro-company tax status
Maria Piroi
Feb 12, 20231 min read
Certified tax forms ➡️ less risk of a tax inspection
Romanian Tax Procedure Code, art. 104: "the certification of tax forms by a tax advisor is an evaluation criterion in the risk analysis"
Bogdan Nastase
Jan 10, 20239 min read
A clean tax file (=ro. cazier fiscal) is a must
Facts (crimes, contraventions) for which information is entered in the tax file of taxpayers. Why it is important
Bogdan Nastase
Apr 8, 20215 min read
How (not) to lose the VAT number
Expired office rent contract, expired administrator’s mandate, neglecting the 6-months rule, becoming a high risk taxpayer
Bogdan Nastase
Apr 2, 20212 min read
Check VAT code Romania: how to verify a Romanian company's VAT number
According to the ECJ, checking if a Romanian supplier is VAT-registered is not mandatory. However, in certain cases it may be useful.
Maria Piroi
Feb 2, 20212 min read
⚠️ Attention administrators: not filing the annual inventory is a contravention
The Accounting Law states that not filing the annual inventory is a contravention of the director, with a penalty between 400 and 5000 RON.
Maria Piroi
Jan 29, 202115 min read
How to read the Annual Financial Statements of a Romanian company
The Annual Financial Statements are like a business card: they represent the company in front of an investor, a bank, a public authority.
Maria Piroi
Jan 29, 202118 min read
How to read a Romanian trial balance
The trial balance - or, for short, the balance - represents the mirror of a company’s activity. All the operations reach it.
Maria Piroi
Jan 4, 20216 min read
Read this before starting a business in Romania
Is it easy to open a business in Romania? To grow it? To pay taxes and to do business with foreign companies?
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