Bookkeeping
quote

REQUEST
CALL BACK

FREE CASE EVALUATION

Financial services in Romania

Contact us

Audit services in Romania

More details

Accountants in Romania

Our accountants in Romania provide a wide range of financial services for international clients interested in doing business in this country.

Accounting Services In Romania

Accounting Services In Romania

Updated on Sunday 27th November 2022

Kontas Management SRL is an accounting company that brings together a number of experienced professionals. The goal of our team of accountants in Romania is to provide personalized services for the specific needs of your company at high standards in financial accounting, fiscal and human resources.
 
 
 Quick Facts  
Who requires accounting services in Romania

Both local and international entrepreneurs looking for doing business in Romania

Applicable accounting legislation

- Romanian Accounting Law,

- International Financial Reporting Standards (IFRS)

Types of accounting services we offer

- bokkeeping,

- payroll,

- tax registration and consultancy,

- annual financial statements,

- audit services

Tax advice and compliance (YES/NO)

Yes

We offer support for tax registration

Yes, our accountants in Romania can provide assistance.

Financial planning for company owners

On request

Risk assessment and evaluation 

We can identify, analyze and propose solutions in case of business risks.

Types of audit services

- internal,

- external,

- financial,

- compliance,

- operational

Tax minimization methods available

- tax credit planning,

- charities,

- retirement plans,

- selling investments that lost their value

Personalized financial consultancy services offered by our Romanian accountants On request
Investment consultancy for high-net-worth individuals

Clients can benefit from specific consultancy, in compliance to their investment needs.

Financial and analysis reports for companies

Dedicated plans available

Human resources services available (YES/NO)

Yes

Expertise provided by certified accountants (YES/NO)

Yes

Free case evaluation

Customers can benefit from free evaluation made by our experts for cases presented.

 
 
Our accountants in Romania provide a wide range of services from accounting, tax consultancy, payroll and personnel administration to consultancy on management accounting. Why work with us? Because you will take advantage of an accurate work and expertise provided by a professional team made of chartered accountants and human resources inspectors able to offer full service in the accounting field, human resources and payroll services, financial and tax consulting for your business' wellness in financial terms. 
 
By working with our Romanian team of accountants you will benefit from professional services in the field of accounting. We are able to offer you a wide spectrum of services from a chronological record of primary documents, to the preparation of journal register, inventory register, tax register, VAT journals, the monthly trial balance, preparing and depositing the annual financial statements. Our tax advisor in Romania will also establish the monthly and quarterly payment obligations, will prepare documents for payment, will prepare and file for the taxes. By working with our advisors you will no longer have to bother about the preparation and submission of the balance sheet, organizing the financial accounting department and about the representation of the company in case of control.
 
We offer you financial services not only in Bucharest, but also in important Romanian towns, such as: Cluj, Brasov, Constanta, Iasi, Oradea, and Galati.
 
We invite you to watch a video about the services provided by our accountants in Bucharest:

 

 

Audit services in Romania

 

Hire us for complete audit services in Romania. We are able to provide our services in accordance with the International Financial Reporting Standards (IFRS) applicable in Romania. For the fulfillment of these standards our accountants plan and perform the audit in Romania in order to obtain reasonable assurance about whether the financial statements are free of material misstatement. Our services of audit in Romania include examining, on a test basis, of evidence supporting the disclosures in the financial statements. Furthermore, our audit services in Romania include assessing the accounting principles and significant estimates made by the management, as well as evaluating the overall financial statement presentation.

 

Proficient tax consultants

 
Ask for our Romanian accounting services for tax consultancy. We are able to offer you assistance in organizing the financial department, the flow of documents and financial and accounting policies. Our accountants in Romania will also prepare the cash flow, the revenue and expenses and the documentation required for obtaining loans. We are also able to provide a quality analysis of receivables and payables and we keep you up-to-date with all the taxes your company must pay.
 

Are you interested in payroll services?

 

Let our Romanian accountants take care of all the procedures needed for the preparation of payrolls and establishing liabilities related to wages. Our accountants in Romania also have solid background and knowledge for preparing of statements related to salaries and tax files. 

 

Do you need human resources services in Romania?

 
Any company in Romania should seek human resource services. An expert accountant advice and further services are essential for the best performance of your business in Romania. Our accountants’ goal is to offer the proper payroll services solutions in Romania, starting with the analysis of your needs and working conditions and personalizing services, according to each case brought before us. Our accountants in Romania will take care of the drafting procedure for the labor contracts, preparing of the addenda to individual labor contracts and the General Register of the employees. As we are able to provide full services in the human resources field in Romania, our accountants will also draw the salary certificates, will prepare the notes for staff liquidation of the beneficiary and they will also offer advice on payments. 
 
 
 

How to avoid the double taxation

 

Any foreign entrepreneur who runs a business in Romania should be aware of the double tax treaties signed by Romania with other countries with the main purpose of avoiding the tax payment both in Romania and in the other country. Work with our Romanian accountants to get assistance and representation in order to apply for the benefits of the double tax treaties. 

 

How can we sustain your business in Romania?

 

Our accountants in Romania are able to offer you consultancy for obtaining a loan in Romania and they will also provide you specific information about the banking system in Romania. This is necessary in order for you to be up to date with all the rulings and regulations issued by National Bank of Romania. By working with our accountants, you will find out all the needed information about the European Funds, including for the new European Program allocated for Romania.

 

Company management

 

Each company needs a proper management strategy to achieve a top position on the Romanian market. By working with our team of specialists in management and business development, you will benefit from customized management strategies that will improve your company’s financial results and will strengthen your company’s position in the competition. One of our main advantages is that being a local firm, we know the Romanian market very well. 

 

What is forensic accounting in Romania?

 
Forensic accounting in Romania represents a practical method to solve varied cases where judicial expertise is necessary. The following attributes are related to forensic accounting in Romania which can be performed by our Romanian accountants:
 
 
  • it represents a legal evidence in any judiciary lawsuit for all sorts of investigations;
  • the judicial entities in Romania can receive financial and economic details of a company;
  • all the records offered by a company can set out the objectives;
  • this expertise can confirm any anomalies in a company in Romania.

 

Financial consulting services in Romania

 
Tax consultancy can be offered on request by our team of advisors in Romania in complete agreement with the Fiscal Code and the related procedures. For having a proper image of the company’s finances and to align with the requirements in the business field, tax consultancy is necessary for each type of company with establishments in Romania. A proper financial analysis is recommended when the company is operating on the market. Please feel free to consider the services offered by our Romanian team of accountants.
 
If you need legal or accounting services in other European countries, such as Bulgaria, Spain, you can contact us.
 

Support for tax registration in Romania

 
Investors from abroad who don’t have knowledge about the tax structure and registration in Romania should know that our consultants can offer complete support in this matter. The registration with the Romanian Tax Administration is not complex, but it requires complete attention to the applicable legislation and the rules involved. The VAT registration can be assisted by our tax advisor in Romania who can provide support with the documents preparation, such as a certificate of incorporation, an affidavit stating the company’s activities at the head office or other places, and the power of attorney in order to submit the VAT registration form. There are several deposit statements which need to be complete, but for assistance in this sense, please talk tour advisors.
 

VAT registration in Romania

 
VAT is among the most important taxes that a company has to pay to the state. This fee is calculated at the final price of the products and services offered, being charged to consumers. But if you want to find out how to register for VAT payment, we recommend that you read the following lines:
 
  • For VAT registration, tax representatives are needed, regardless of the country of origin of the respective company.
  • An extract of the company's Trade Register, original and notarized is requested for Romanian VAT registration for a foreign company.
  • Another document is necessary that describes the company's activities and how the services and products offered are subject to taxation.
  • In the case of non-EU companies, the authorities will also request the estimated annual turnover.
  • Forms 010, 088, and 098 must be completed by the Romanian entities. Our tax advisor in Romania can offer support.
 
Considering the formalities listed above, you will be able to correctly apply for VAT registration in Romania. If you need a fiscal representative you can discuss this with our tax advisor in Romania. We also mention that once the documents are accepted by the Romanian Tax Authorities, a VAT code is issued. We recommend the services offered by our local accountants if you are interested in VAT registration in Romania, for your local or foreign company.
 

Tax minimization methods in Romania

 
Even if the taxation system in Romania is an advantageous one, it is still recommended to minimize taxes in a company, respectively reducing the fiscal obligations of a firm. If you have such a plan for the company you own, we invite you to discover the following methods of minimizing taxes, which you can implement when necessary:
 
  • Tax optimization can be done through VAT. Our tax advisor in Romania can tell you more details.
  • Holding companies are optimal solutions for minimizing taxes and you can take them into account.
  • Opening companies, such as offshore companies, in tax-friendly jurisdictions.
 
Tax minimization methods should be implemented from the very beginning when a business is established in Romania. In this regard, we recommend the help offered by our accountants in Romania who can explain right away what procedures you should implement in the owned company in order to pay fewer taxes. We also mention that our specialists can also deal with audits, as is mandatory, according to the law.
 

FAQs about accounting services in Romania

Here are the main questions asked by our clients and the responses from our Romanian accountants:
 
1.  Do I need forensic accounting?
 
Yes, if a financial investigation takes place in your company, then a judicial expertise might be necessary. Financial and economic information can be provided by our team of accountants if you hire our services for your company in Romania.
 
2. Can I access human resources services?
 
Yes, human resources services for your company in Romania are at the disposal of foreign entrepreneurs looking to open a company in this country. The drafting procedure for labor contracts can be supervised by our team.
 
3. Do I need payroll services?
 
Our Romanian accounting firm can provide the necessary payroll services for your business in Romania. Taxes and salaries for your employees, plus the procedures involved can be overseen by our team of advisors.
 
4. Can I receive tax consultancy for my company in Romania?
 
Yes, foreign investors looking to start a business in Romania can benefit from complete services in terms of taxation. Knowing the applicable legislation can help entrepreneurs understand better how the business is done in this country.
 
5. Can I receive audit services in Romania?
 
Yes, our team is specialized in audits for medium and large companies in Romania, in complete respect with the International Financial Reporting Standards. A complete examination of the financial situation of your firm stands at the base of any audit. Please talk to us about this matter.
 
6. Can I get help for company payments?
 
Yes, we are at your disposal with complete assistance for the monthly or quarterly payments. We can also help you with the taxes you need to pay for your company, with respect to the internal regulations.
 

How to choose a good accountant in Romania

 
Whether you own a business or work as a sole trader, it is recommended to have an experienced accountant on hand, who can fulfill everything related to the financial regulations imposed by law. But choosing such an accountant can be difficult for those who have never had to deal with this. We can tell you in a few lines what to keep in mind when looking for an accountant:
 
  • A proactive attitude is an asset for an accountant. This can be considered a business partner to help you with the financial aspects of the company.
  • Our accountants are CECCAR members, and this is the first aspect you should take into account when looking for such a specialist.
  • Continuous professional training is recommended for accountants, regardless of their experience. They must be aware of the news, as well as the changes in the legislation.
  • A good accountant has more knowledge than primary accounting. His/her certifications will tell you if you should hire him/her or not.
  • You can work with an accountant on a contract basis. This document guarantees that the respective expert knows what tasks and responsibilities he/she has. You should also consider this aspect when looking for a good accountant. Get in touch with us if you need a tax advisor in Romania for your business established here.
 
 
If you are interested in other legal or accounting services in  Romania or in Malta, you can contact us.