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The VAT collection system: implications for your business

What is VAT on collection? VAT on collection is a system of collecting and deducting VAT that differs from the normal system. Under this system, VAT is collected and deducted only when invoices are received or paid.

5

reading minutes

June 27, 2023

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What you need to know about part-time contracts

A 4-hour-a-day contract may be right for you if you have children and need a career with fewer hours, or if you are a college student or retired and looking for extra income.

October 4, 2022

reading minutes

Suspension of the company - a solution for temporary interruption of activity

Any company, regardless of the activity it carries out, may also face the situation where it has to suspend its activity for a certain period of time or cease it completely.

September 27, 2022

reading minutes

Freelance accounting - what obligations and taxes do you have as a freelancer in Romania?

The PFA, or Authorised Natural Person, is the simple legal form through which a person is authorised to carry out economic activities or provide services with his own labour force, in any field in which he chooses to operate.

September 3, 2022

reading minutes

How do we calculate the income tax of a micro-enterprise?

Companies have to pay different types of taxes, which are calculated according to the scope of the business, such as the sale of products/services, the profit made, the number of employees and many other criteria.

September 2, 2022

reading minutes

Categories of companies that must implement mandatory e-invoicing

In partnerships between businesses and public organisations, e-invoicing has become mandatory from 1 July 2022

August 22, 2022

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Collaboration contract: what it is and when it is concluded

A collaboration contract is different from an individual employment contract, being primarily governed by the Civil Code and not the Labour Code.

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What taxes you have to pay for a PFA

As every legal entity has tax obligations, we will now find out about the costs of running a PFA.

3 August , 2022

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Everything you need to know about the intra-Community VAT code

If you are a non-payer of VAT in a PFA, SRL or a Sole Proprietorship and you want to work with taxable companies within the European Community, then you may need a special VAT code, also called an intra-Community VAT code.

reading minutes

How to do the bookkeeping yourself for your PFA

According to the Order of the Ministry of Public Finance No 170/2015, both PFAs and sole proprietorships in the real system keep simple accounts.

reading minutes

Payment or collection order?

What is a payment provision?

January 5, 2023

reading minutes

The tax voucher and its contents

What is the tax voucher? The tax receipt is issued by cash registers and is used as proof of receipts made by the operator.

November 18, 2022

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Dividend tax in Romania in 2023

Dividends are payments a company makes to share profits with its shareholders.

November 10, 2022

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Taxes and declarations for an LLC in 2022

A commonly used legal form in Romania is the LLC. In short, it is a company that offers limited liability to its founders, up to the limit of the capital invested by them.

October 31, 2022

reading minutes

Guide to drawing up a business plan

Having a business plan in place can determine the success of your business, as this structure lays out all the details of your company's concept and strategy - the products or services of your company, how you make money (or how you intend to make money), management and staff, financing, operating model and more.

October 31, 2022

reading minutes

What you need to know about part-time contracts

A 4-hour-a-day contract may be right for you if you have children and need a career with fewer hours, or if you are a college student or retired and looking for extra income.

October 4, 2022

reading minutes

Suspension of the company - a solution for temporary interruption of activity

Any company, regardless of the activity it carries out, may also face the situation where it has to suspend its activity for a certain period of time or cease it completely.

September 27, 2022

reading minutes

How do we calculate the income tax of a micro-enterprise?

Companies have to pay different types of taxes, which are calculated according to the scope of the business, such as the sale of products/services, the profit made, the number of employees and many other criteria.

September 2, 2022

reading minutes

Categories of companies that must implement mandatory e-invoicing

In partnerships between businesses and public organisations, e-invoicing has become mandatory from 1 July 2022

August 22, 2022

reading minutes

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