Info Tax 2011

About transfer pricing and transactions carried out between Romanian legal persons
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Info Tax no. 21, December 2011 Transfer pricing has become one of the hottest tax issues today. As it is not an exact science, the topic is hard to approach and creates difficulties, not only when it is studied in-house but, in many cases, also when it is outsourced with reputed advisers. By this analysis, we do not aim at …

Increase of tax rate on buildings
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Info Tax no. 20, October 2011 Recent changes in the Fiscal code increase the tax rate on buildings owned by companies, should the buildings, other than those acquired in the last 3 years before the current year or during the current year, have not been revaluated in these 3 years preceding the current year. Starting 1 January 2012, the tax …

Amendments to Accounting Law and Company Law
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Info Tax no. 19, May 2011 Emergency Ordinance no. 37/2011, published in the Official Gazette no. 285/22.04.2011, brings a series of amendments to Accounting law and, secondary, to Company law. I. Accounting law 1. Subunits without legal personality Subunits (e.g. branches, permanent establishments) set up in Romania by companies established in states of European Economic Space (EU and EFTA member …

The European Commission adopted the decision for Romania’s authorization for application of reverse charge in domains with high risk of tax fraud
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Info Tax no. 18, May 2011 1. The decision of the European Commission and the next steps On the 4th of May 2011, the European Commission adopted the decision for Romania’s authorization for application of reverse charge for supply of the following categories of products considered to have a high risk of tax fraud: corn, wheat, rye, sunflower, barley, rape, …

Changes to the Fiscal code and Fiscal procedure code starting with 1st of January 2011
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Info Tax no. 17, January 2011 Emergency Ordinance no. 117/2010, published in Official Gazette no. 891/30.12.2010, effective with 1st of January 2011, brings a series of modifications both to Fiscal code and Fiscal procedure code. I. Fiscal procedure code taxpayers will declare and pay the income tax related to income obtained by employees carrying out their activity at fiscally registered …

Profits tax declaration for the year 2010
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Tax Info no. 16, January 2011 1. Envisaged persons Based on the provisions of the controversial emergency Ordinance no. 87/2010 all taxpayers who, before 30 September 2010 inclusive, were subjected to the lump sum income tax, must submit two annual profits tax returns, one for each of the following periods: 1 January 2010 – 30 September 2010 1 October 2010 …

The fund for construction workers’ social protection
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Tax Info no. 15, January 2011 We approach in this issue a subject that the legislative does not feel the need to regulate properly, but which, due to the contrary financial interests that it generates on the market, constantly returns to the attention of the business environment. That is the contribution to construction workers’ social protection fund, as it is …