ROMANIA
Romania joined the European Union in 2007, has revised some of its standards and offers a comprehensive tax system compliant with the various EU directives in force. The corporate tax rate in force in 2016 is 16% (since January 1, 2005). For the time being, there is no additional tax such as ...
The profit tax rate (IS) is of 16%. Dividend distributions are taxed at a rate of 8%. It should be noted that, under double tax treaties signed with many European countries, this withholding may represent a tax credit imputable to the amount of tax owed by the shareholder or partner in his ...
Companies that have had an annual income of less than 500,000 EUR (equivalent to 2,500,000 RON) have the option of opting for the micro-enterprise tax regime in place of corporate tax (1) . The company can opt for the micro-company regime provided that: it achieves a turnover of less than ...
It's a real opportunity to incorporate a holding company in Romania by implementing an exemption regime for capital gains from financial transfer.
how to incorporate a company in Romania from memorandum of association to VAT registration
LPG Romania can act as a tax representative to foreign companies not established in Romania in the following with respect to the country's VAT administration : obligations to pay tax or to make claims In addition to corporate tax representation in Romania, it must be added ...
The corporate tax rate on profit is 16%. In Romania the withholding tax on dividends distributed to shareholders or partners is 16%. Thanks to Romania tax treaties preventing double taxation signed by Romania and the United States and many other countries, the tax withheld may be reduced and ...
Romanian companies who have a turnover of more than 10 million RON (about 2.3 million EUR) are required to:File their annual reports, management reports and audit reports with the Official Journal of Romania;publish an announcement confirming that the documents have been released in the Official ...
Romanian corporate taxes are paid:monthlyquarterlybiannuallyannuallyThe following summarizes the corporate taxes which are generally paid by companies here, without specifics as to amounts due:(i) the type of company(ii) the size of the company(iii) the sector of the company(iv) other features ...
All Romanian companies owning property in Romania must pay property tax.Property tax varies depending on where the property is located as the rate is determined by local authorities.The rate varies between 0.25% and 1.5% of the asset value or the revalued amount of the property.The buildings ...
Two Romanian companies can compensate their reciprocal debts or claims by drafting a compensation agreement called an “Order of Compensation”. This Order of Compensation must be written standard form, and must be accompanied by a record of compensation under the following ...
In terms of vehicles, VAT deductions are limited to 50% when vehicles are no longer used exclusively for business purposes (versus 100% for exclusive business purposes). VAT deductions apply to its purchase, when it is an intra-communitary acquisition, it is imported, rented or leased. This is ...
Expertise
Précis de droit comptable et aspects fiscaux
April 2023, publication of the new edition of the Précis de Droit Comptable, by Denis Colin, manager of the Fiduciaire LPG