Tax rate for the incomes of the micro-companies increased from 2.5% to 3% from the 1st of January 2009, according to art. 107 of the Fiscal Code.

In order to benefit of the advantage of the fiscal policy for micro-companies, companies which choose this option should meet on December 31st of the previous fiscal year, cumulative, conditions laid down in Article 103 of the Fiscal Code:

1. to achieve revenue, other than those of consulting and management, the proportion of over 50% of total revenues;
2. to have at least 1 employee and maximum 9 employees;
3. to make annual income not exceeding the equivalent in RON of 100,000 euros
4. the registered capital of the legal person to be detained by natural or legal persons other than the State, local authorities and public institutions.

Return to pay tax  read more»

According to the state social insurance law for the year 2008, no. 387/2007, contribution rates will change from the months of December this year. The new rates of contribution are as follows: read more»

Beginning with 2008, and according to the article 160, 2nd paragraph from the Fiscal Code, with the further modifications and addings, the goods and the services for the delivery of which the simplification procedures regarding reverse taxation are applied include:

1. the offal's and the secondary raw material, resulted from their capitalization, such as they are defined by the Government's Urgent Disposition no 16/2001 regarding the administration of the recycling industrial offal's, republished, with the further modifications.
2. the goods and/or the performed services by or for the persons for whom the insolvency procedure was started, excepting the goods furnished within the retail trade;
3. the wooden material, in agreement to the norm stipulations.

In accordance with the point 82 from the Methodological Stipulations: read more»

The Official Gazette no 858/2007 published details regarding the procedure of registering of the contracts between Romanian legal entities and foreign legal entities or non resident persons.

This normative document repealed the stipulations of ANAF Disposition no 1.145/2007 emitted in October 2007 and substantially modified the registration procedure of the contracts concluded with non-resident suppliers.

Thus, its important modifications are: read more»

The Official Gazette no 858/2007 published details regarding the procedure of registering of the contracts between Romanian legal entities and foreign legal entities or non resident persons.

This normative document repealed the stipulations of ANAF Disposition no 1.145/2007 emitted in October 2007 and substantially modified the registration procedure of the contracts concluded with non-resident suppliers.

Thus, its important modifications are: read more»