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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 Wednesday 08th July 2020

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TGS Romania is an accounting company that brings together a number of professionals. The goal of our team of accountants in Romania is to provide personalized services to the specific needs of your company at high standards in financial accounting, fiscal and human resources. Our accountants in Romania provide a wide range of services from financial and management accounting, tax consultancy, payroll and personnel administration and, last but not least, 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 the best 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, preparing the monthly trial balance, preparing and depositing the annual financial statements. Our Romanian accountants will also establish the monthly and quarterly payment obligations, will prepare documents for payment, will prepare and file 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.
 

Awards and organizations we are part of

 
TGS Romania changed its name from The Practice - TPG in 2019, after acquiring Fidexpert Group. The business evolved to become a distinguished accounting firm in Bucharest. Our company has a comprehensive understanding of the financial and tax system in Romania. Our accountants and advisors have valuable experience and can assist clients in a variety of matters. Our services are recognized and our company has received a number of awards over the years:
 
 
  • Second rank among Bucharest’s accounting firms - awarded by CECCAR (The Body of Chartered Certified Accountants of Romania) in 2015; 
  • Fifth rank among Bucharest’s accounting firms - awarded by CECCAR in 2013. 
Below is a list of our main affiliations in various areas of expertise:
 
Greek - Romanian Chamber of Commerce
 
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C.E.C.C.A.R – The Body of Chartered Certified Accountants of Romania
 
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C.A.F.R – Chamber of Financial Auditors of Romania
 
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C.C.F. – Chamber of Tax Consultants of Romania
 
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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 for the restatement of annual accounts in accordance with 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 the preparing of statements related to salaries and tax files. 

 

Do you need human resources services in Romania?

 
Yes, 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 activity in Romania. Our accountants’ goal is to offer the best 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. In this sense, our accountants in Romania will take care of the drafting procedure for the labor contracts, of the 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 pay.
 
 

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 in obtaining a loan in Romania and they will also provide you specific information about the banking system in Romania in order to be up to date with all the rulings and regulations issued by National Bank of Romania and adopted by the bank institutions you are working with. By working with our accountants, you will find out all the needed information about the European Funds, including for the new European Programme for the period 2014-2020 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 made by accountants 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.

 

We can provide 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 to 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 consultants who can provide support with the documents preparation like 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.
 

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, as established in the firm. We can also help you with the taxes you need to pay for your company, with respect to the internal regulations.
 
If you are interested in other legal or accounting services in  Romania or in Malta, you can contact us.