Bookkeeping
quote

REQUEST
CALL BACK

FREE CASE EVALUATION

January' 2016 | Archive | Blog

How the New Fiscal Code can Help You Minimize Taxes

2016-01-27
Companies incorporated in Romania are trying to find legal ways to minimize the amount of due taxes. Certain provisions of the new fiscal code can be used for this purpose, provided that the company managers interpret its provisions in such a way that will help them. Our team of Romanian accountants is aware of the newest fiscal changes and can help you with complete tax minimization services for your business.

Romania Introduces New Provisions to the Tax Code

2016-01-06

From the 1st of January 2016, Romania has introduced a new Tax Code, in which are specified important changes to excises and several taxes, such as: corporate income tax, value added tax, personal income tax, social contributions and local taxes. The new legislation has the purpose of simplifying the process of tax collection, decreasing taxes paid by both individuals and companies, and stimulating economic growth; our team of Romanian accountants can offer you an insight of the main effects of the tax modifications. 

VAT in Romania, Reduced to 20% From the 1st of January 2016

2016-01-05

Since the beginning of 2016, the standard VAT (value added tax) in Romania is applicable at a rate of 20%, as an effect of the new Romanian Fiscal Code. Until the end of 2015, the standard VAT applicable to both companies and individuals was established at a rate of 24%. According to the new Fiscal Code, the VAT will be further reduced from the 1st of January 2017, from 20% to 19%; our Romanian accountants can offer you a detailed presentation on the new VAT.