“Skipping the legalese, straight to the point, every question that comes to mind is answered. Excellent material!”
Main benefits: through the numerous practical examples, I can easily understand some of the most important rules for business success in Romania during and after the COVID-19 pandemic. By reading this book, I will be able to save on advisory costs because I will get to understand the following practical details: how to start a business in Romania; what is a micro company and what are its advantages over the traditional profit-tax paying company; how to get the VAT number - the regular one, the special one for EU transactions, or the e-commerce one; the most frequent mistakes in the beginning, like losing my newly-obtained VAT code and getting my company suspended at both the Trade Registry and at the Tax Agency (ANAF); what is a PFA and its benefits; what are the rules for the beneficial owner form; when do I need to start filing tax returns; how can I file tax returns online; what is the Virtual Private Space (SPV) and how do I access it; about the Environment Fund; about Intrastat; how to hire my first employee and the mandatory payroll documentation; how to motivate the employees, including with tax-deductible vouchers; why I need to constantly check my accounting; where do I see my revenue and profit in a Romanian trial balance; which expenses are tax deductible - services, protocol, transport, sponsorships etc. - and which support documents are needed; what is the legal reserve; what is equity and why is it so important; how can I optimise tax; what are the rules for drafting annual financial statements (including the informative data and the administrator’s report); how to read a Romanian balance sheet; details about NIF; details about “declarația unică”; how can I withdraw interim dividends throughout the year and what is the dividend tax; how can I obtain a tax record online; how to file a VAT refund request; tax inspection: what to expect; how to reduce the tax risk profile of my business in Romania.
This book is also relevant for business students, lawyers, consultants, owners of IT companies, real estate owners, HNWIs, multinational companies interested in expanding their presence to Romania.
"This book will save the reader time and money, combining practicality with a bit more than just mere vision: the ingredients of a successful business in Romania."