Archive
Romanian Tax Alert Newsletter no 2
Museum of the Romanian Peasant, Buchurest.
Dear Quoracy.com subscribers,
We continue our efforts in upgrading and enhancing our services to you, both in context and quality.
In this respect, please find in the below link Baker Tilly Klitou Tax Alert no. 2 per 2012, in English and Romanian language. The purpose of this Tax Alert is to inform you about the latest tax legislation changes that could have an impact on your company’s activity: changes that affect our Tax Code, any legislative changes that are announced by the Ministry of Finance and any other Romanian tax related developments.
Our tax experts are always at your disposal in answering any queries that may arise from this Tax Alert.
Kind regards,
Nadia Oanea
Tax Manager – Head of Tax Department
CCFR, CECCAR
Bucharest Office
52, Splaiul Independentei,
Tel: +40-21-3156100
Fax: +40-21-3156102
E-mail: mailto:nadia.oanea
(For Disclaimers to all republished alerts, see divider above)
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Romanian Property Evaluation – December 2011
Baker Tilly Klitou sent us this important reminder for those with assets in Romania
 Dear Associates,
With regard to the upcoming year closing, according to the Order 3055 / 2009 for approving the Romanian Accounting Regulations, we kindly inform you that you have to perform an assessment of the tangible assets owned by the company. Furthermore, according the art. 253 of the Law 571 / 2003 regarding Fiscal code with subsequent changes, the legal entities are required to compute and pay taxes on the buildings owned, as follows: · between 0,5% and 1,5% of the value of the building, if the owner has performed at least an evaluation of the buildings in the last 3 fiscal years; · between 10% and 20% of the value of the building, if the owner has not made any evaluation of the buildings in the last 3 fiscal years; · between 20% and 40% of the value of the building, if the owner has not made any revaluation of buildings in the last 5 fiscal years. Should you need to perform an evaluation of buildings owned by the company, so that the level of taxes payable by the company for the buildings owned to be ranked between 0,5 and 1,5 of the value of the building, please send your requests back to us to the address info Baker Tilly Klitou is an independent member of Baker Tilly International which is a global network of high quality, independent accountancy and business services firms, all of whom are committed to providing the best possible service to you, wherever you needs help, in Romania and across the world. Baker Tilly Klitou is member of Romanian Chartered Accountants Body (CECCAR), member of Romanian Chamber of Tax Advisors (CCFR), member of Romanian Chamber of Auditors (CAFR), as well as member of Romanian Evaluators Association (ANEVAR). Our team includes qualified professionals able to provide full range of accounting and payroll services, tax consulting, audit as well as evaluation of properties. Should you need further clarifications regarding the aforementioned information, our consultants are at your disposal. BEST WISHES FOR A HEALTHY AND PROSPEROUS 2012! Victor Papala Senior Manager December 2011 |
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Pdfcasting: Baker Tilly Klitou Romanian Tax Monthly August 2011
The oldest document in the Romanian language - it stays the same but the tax laws change every few months!
Baker Tilly Klitou sent us their latest Romanian tax alert.
Dear Quoracy.com subscribers,
Please find enclosed Baker Tilly Klitou Tax Alert for the period of August 2011 in English and Romanian language.
The purpose of this Tax Monthly is to inform you about the latest tax legislation changes that could have a major impact on your company’s activity.
In case you need additional information or comments are necessary please do not hesitate to contact us.
If you do not wish to receive further news updates, please let us know or unsubscribe by clicking the link below, at the end of this e-mail.
Kind regards,
Nadia Oanea
Tax Manager
Bucharest Office
52, Splaiul Independentei,
Bucharest, Romania
Tel: +40-21-3156100Fax: +40-21-3156102
E-mail: mailto:nadia.oanea
Tax Monthly_August_ 2011_EN.pdf
Tax Monthly_August_ 2011_RO.pdf
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Romania: Baker Tilly Tax Monthly July 2011
Cretulescu Palace, yesterday
Baker Tilly Klitou sent in the following:
Dear Quoracy.com subscribers,
Please find enclosed Baker Tilly Klitou Tax Alert for the period of July 2011 in English and Romanian language.
The purpose of this Tax Monthly is to inform you about the latest tax legislation changes that could have a major impact on your company’s activity.
In case you need additional information or comments are necessary please do not hesitate to contact us.
If you do not wish to receive further news updates, please let us know or unsubscribe by clicking the link below, at the end of this e-mail.
Kind regards,
Nadia Oanea
Tax Manager
Bucharest Office
52, Splaiul Independentei,
Bucharest, Romania
Tel: +40-21-3156100Fax: +40-21-3156102
E-mail: mailto:nadia.oanea
Web: www.bakertillyklitou.ro
Baker Tilly Klitou – Tax Monthly April 2011
Image by Fergal Claddagh - History of Romania in tapestry
Baker Tilly Klitou sent us the following Romanian tax monthly update:
Dear Quoracy.com subscribers,
Please find enclosed Baker Tilly Klitou Tax Alert for the period of April 2011 in English and Romanian language.
The purpose of this Tax Monthly is to inform you about the latest tax legislation changes that could have a major impact on your company’s activity.
In case you need additional information or comments are necessary please do not hesitate to contact us.
If you do not wish to receive further news updates, please let us know or unsubscribe by clicking the link below, at the end of this e-mail.
Kind regards,
Nadia OaneaTax Manager
Bucharest Office
52, Splaiul Independentei,
Bucharest, Romania
Tel: +40-21-3156100 begin_of_the_skype_highlighting +40-21-3156100 end_of_the_skype_highlightingFax: +40-21-3156102
E-mail: mailto:nadia.oanea
Web: www.bakertillyklitou.ro
Baker Tilly Klitou – Romania Tax Monthly March 2011
Romanian dialects map. Thankfully that doesn't impact on taxation...
Baker Tilly Klitou have sent us their Romanian tax monthly, see the pdfs at the bottom of the post:
Dear Quoracy.com subscribers,
Please find enclosed Baker Tilly Klitou Tax Alert for the period of March 2011 in English and Romanian language.
The purpose of this Tax Monthly is to inform you about the latest tax legislation changes that could have a major impact on your company’s activity.
In case you deem additional information or comments are necessary please do not hesitate to contact us.
If you do not wish to receive further news updates, please let us know or unsubscribe by clicking the link below, at the end of this e-mail.
Kind regards,
George Sinca
Senior Tax Consultant
Bucharest Office
52, Splaiul Independentei,
Bucharest, Romania
Tel: +40-21-3156100
Fax: +40-21-3156102
E-mail: mailto:marius.cojuhovschi
Web:www.bakertillyklitou.ro
Tax Monthly_March_2011_ENx.pdf
Tax Monthly_Martie_2011_ROx.pdf
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Baker Tilly Klitou – Romanian Tax Monthly – January 2011
Dâmboviţa River in Bucharest and the Bancorex building (wikipedia)
We received the following from our good friends Baker Tilly Klitou in Romania:
Dear Quoracy.com readers,
Please find in the pdf below Baker Tilly Klitou’s Romanian Tax Alert for the period of January 2011 in English and Romanian language.
The purpose of this Tax Monthly is to inform you about the latest tax legislation changes that could have a major impact on your company’s activities in Romania.
In case you deem additional information or comments are necessary please do not hesitate to contact us.
If you wish to receive your own email news updates, please let us know or subscribe by contacting the address link below, at the end of this e-mail.
Kind regards,
Sinca George
Senior Tax ConsultantBucharest Office
52, Splaiul Independentei,
Bucharest, Romania
Tel: +40-21-3156100
Fax: +40-21-3156102
E-mail: mailto:marius.cojuhovschi
Web:www.bakertillyklitou.ro
Tax Monthly_January_2011_ENx.pdf
Tax Monthly_January_2011_ROx.pdf
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Update on Intra-community Operators Registry in Romania
Romania and the EU
Our friends at BT Klitou have sent the following information about the emergency tax avoidance measures being applied in Romania. If you do business in Romania as part of a multinational group or business, the chances are that you could be seriously affected by the matter outlined below, and if you need more information the contact details to George Sinca are given.
Dear Quoracy.com readers,
The purpose of the email is to remind you about a new compliance request that has to be fulfilled in Romania for the taxpayers registered in Romania performing intra-community operations.
Emergency Ordinance no. 54/2010 regarding some measures against tax evasion.
- Starting with 1 August 2010 the Intra-community Operators Registry was introduced by the tax authorities.
· In this registry, will have to register themselves, all the taxable entities (from a VAT perspective), and non-taxable legal entities which will perform intra-community transactions (i.e. supply of services/goods, acquisition of services/goods);
- The taxpayers who are not registered in the Intra-community Operators Registry, irrespective of the fact that are VAT registered cannot perform intra-community operations as the VAT code will not be recognized by VIES.
- The tax authorities have also made publicly available the documentation needed by the companies to register themselves to the registry. Among the needed documents, for the companies that have also individuals as shareholders, the criminal record of those shareholders is mentioned. The criminal records have to be obtained from the Romanian authorities both for the Romanian and foreign shareholders.
What we can do for you
- We can assist you with registering your company as Intra-community Operator by providing you with information about the needed documentation, assisting you in obtaining the criminal record for the shareholders (individuals), filling in the requested forms, and submitting the files to the tax authorities.For further information and additional details please do not hesitate to contact us. Please note that the registration is a service supplied by the Tax Department which will be charged separately from the accounting fees.Kind regards,
George Sinca
Bucharest Office
52, Splaiul Independentei,
Bucharest, Romania
Tel: +40-21-3156100
Fax: +40-21-3156102
E-mail: mailto:george.sinca
Web:www.bakertillyklitou.ro
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