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Gross minimum salary was changed from 1st of January 2011

Starting with 1st of January 2011 the minimum gross salary guaranteed payment is set at 670 lei per month according to H.G. 11931/2010, compared with 600 lei as it was at the end of 2010.

The amount of 670 lei is set for a full-time working schedule of 170 hours per month, representing 3.94 lei/hour. The staff compliance with a salary below the minimum gross salary is considered to be a contravention and is punishable by law with a fine of 1.000 lei up to 2.000 lei.

Therefore according with the new provisions, the minimum gross salary is 670 lei for an unqualified worker, a minimum gross salary of 804 lei for a qualified worker, and for the personnel employed in positions that require higher education will be of 1340 lei.

The H.G. 1193/2010 that enables the minimum gross salary guaranteed payment was published in the Official Gazette, Part I no. 824 from 9 December 2010.

The main legislative changes in fiscal domain for 2011

During the last days of 2010, were published in the Official Gazette 891/30.12.2010 important changes of the Fiscal Code and of the Regulations for the application of the Fiscal Code, but also of the social insurance legislation and the Fiscal Procedure Code. The governmental decree that stipulates these changes is OUG 117 for the amendment and completition of Law no. 571/2003 regarding the Fiscal Code and reglementation of some financial and fiscal measures.

Amendments to the Fiscal Code relates primarily to: tax, income tax on small companies, VAT, income tax, excise duties, social contributions. Here are the main changes occurring in each of these areas: read more»

Public speaking, open training, Arad

2010-12-09 09:00
2010-12-10 17:00
Europe/Bucharest

How to captivate our audience ...

Sweaty palms, the perspiration of the forehead, the accelerate heartbeat or the erasure of all the ideas from your mind are some of the inconveniences that might occur in a public presentation. The fear of speaking in public is among the biggest fear of the human being.

The ability to make presentations in public and to efficiently sustain ideas has an important impact on our success in career and the whole society.

With the techniques and methods presented in this course you will better understand better can we make a successful and a persuasive presentation in order to maintain the interest of the audience awake.

Target

The course is addressed to: read more»

Starting with October 1st the minimum tax dissapears!

Based on the Romanian Government’s representatives, starting with October 1st, the minimum tax will be eliminated. The minimum tax was introduced at 1st of May 2009, together with other fiscal measures aimed to diminish the effects of the economic crisis, but finally, their effects were exactly the opposite.

As a result of the minimum tax's elimination, the companies will pay between the 1st of October and the 31st of December 2010 the profit tax of 16%.

The last deadline for the minimum tax (the flat tax) will be the 25th of October, for the 3rd quarter of 2010. Starting with the 25th of February 2011, the companies will pay the profit tax for the 4th quarter of 2010, accordingly with the calculation norms existing before the introduction of the minimum tax. read more»

Business opportunities: Serbia, Bulgaria, Hungary, Republic of Moldova

2010-09-16 11:00
2010-09-16 13:00
Europe/Bucharest

Preamble

Globalization. International business relationships. Economic crisis! Their effects obliges us to reconsider our activities and take decisions: to cut budgets, to dismiss employees or even to close offices and branches, but also to consider strategies that help us grow our company, looking to new markets and new investment opportunities.

Why this project? read more»

Amendments to the Fiscal Code startig with July 1st 2010

Starting July 1st 2010, new tax and fiscal regulations are applied in Romania, due to the Emergency Ordinance 58 from June 26th 2010, that will affect all sectors of the national economy.

We briefly present the changes brought by this ordinance:

Profit Tax

Article 32 of the Fiscal Code is amended and has the following content:

“Art.32 Any loss realized by permanent headquarters situated in other states other than Member States of the European Union / European Association of Free Trade or which are located in a state with which Romania has concluded a double taxation convention is deductible only from the income earned by that permanent headquarters. read more»

The art of self-distruction!

One year and a half ago the Romanian Government announced the first set of anti-crisis measures. I've considered them wrong and I estimated their effects will be opposite and will deepen the crisis, respectively I wrote several articles about it at that time. read more»

New rules for the activity of the Romanian Trade Registry 

Government's Emergency Ordinance no. 54/23.06.2010 brings news also related to the acti vity of the Trade Registry. It amendes other regulations, among which the Law 31/1990 on copanies, republished in the Official Gazette, Part I, no. 1066 from November 17th, 2004, which is modified and completed as it follows: read more»

Beginning with August 1st 2010, the Register of Intra Community Operators is being set up

On June 23rd 2010, the Emergency Ordinance no 54/2010 has been adopted, stipulating some measures to fight against tax evasion, ordinance that brings amendments to the Fiscal Code in force. The Ordinance was published in the Official Gazette no. 421 of June 23rd, 2010.

The stated purpose for these changes is the registration and removal from the taxpayers records of those who are carrying out Intra Community trade particularly Intra Community acquisitions of goods, to reduce tax evasion on VAT.

Thus, beginning with August 1st, 2010, the National Tax Administration Agency sets up and organizes the Register of Intra Community Operators that includes all taxable persons and non-taxable legal entities carrying out intra community operations, such as : read more»

New registered companies don't pay minimum tax in 2010

As by the application rules of the Romanian Tax Code, the companies founded in 2010 pay income tax but do not pay the minimum tax.

This provision is included in art.11^6 of the Implementing Rules of the Tax Code for Article 18:

"11^6. Taxpayers established during the year are not entering under the provisions of Art. 18 para. (2) for the year wehen they are registered at the Trade Registry, but they are required to determine the income tax as by the provisions of Title II "Tax profits" of the Tax Code."

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