August-September 2024 Regulatory Updates
Updated fiscal laws, managing budget debts, raising pension thresholds, and revising VAT, gambling, and tax regulations.
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Bogdan Nastase
May 302 min read
Fast-Track VAT Registration: Get Your New Romanian Business VAT-Ready
Fast-track your Romanian VAT registration and avoid unnecessary fees & delays. Learn the less-known method for new businesses.
Maria Piroi
Apr 9, 20212 min read
Exit business. What about VAT?
Dividing business raises flags for the Tax Agency ANAF because of the VAT implications. Liquidating business also involves a VAT check.
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
Maria Piroi
Apr 6, 20216 min read
VAT inspection: what to expect
Background info.
How long will it take?
Which documents will I be asked to present?
What is the result?
Maria Piroi
Apr 5, 20213 min read
Before asking for a VAT refund
Basic conditions, mandatory preliminary cross-checks and VAT refund advice for a business in Romania
Maria Piroi
Apr 5, 20212 min read
Who benefits most from the system TVA la încasare? (=en. cash-basis VAT)
The VAT system la încasare is very advantageous for service providers, who usually have low expenses and do not have much VAT to deduct
Maria Piroi
Apr 5, 20212 min read
TVA la încasare (cash-basis VAT): practical details
I will pay VAT only after I receive the money from my clients. At the same time, I can only deduct VAT from suppliers after paying them
Maria Piroi
Apr 2, 20212 min read
TVA la încasare vs TVA la facturare: what is the difference?
TVA la incasare is due when I receive the money I invoiced - and TVA la facturare is due when I invoice
Maria Piroi
Apr 2, 20211 min read
Monthly VAT vs Quarterly VAT: what is the difference?
The difference is given by two main factors: revenue and intra-community acquisitions of goods
Maria Piroi
Apr 2, 20216 min read
VAT in the Romanian trial balance: alerts and triggers
VAT-related warning flags and triggers for fines, penalties and charges, visible in a Romanian trial balance
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.
Bogdan Nastase
Apr 1, 202110 min read
Get VAT code Romania: how to get the VAT registration number in Romania
Four cases: 1) before or 2) after revenue of RON 300k, 3) intra-EU transactions, 4) e-commerce
Bogdan Nastase
Apr 1, 20212 min read
Romanian VAT basics
Getting the VAT code has several advantages: I will be able to do business with companies in the EU and get back VAT paid to Romanian firms
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