Articles - Page 2 of 6 - Romanian Accountants

Double Tax Treaty Romania – South Africa

If you have decided for business in Romania as a citizen from South Africa, you should consider the provisions of the double tax treaty signed by the two states, and meant to help business persons avoid the double taxation of incomes. Whether you are a Romanian with companies in South Africa or a citizen from South…

New Tax Exemptions for Natural and Legal Persons

Significant changes in the tax legislation have been recently adopted by the Romanian authorities. New tax exemptions for natural and legal persons are implemented since January 1st 2017. These tax exemptions are meant to make Romania a more attractive business investment location and provide further incentives for entrepreneurship. Detailed information about these tax exemptions can be provided to…

The Advantages of the Electronic Garnishment

The Romanian Agency for Fiscal Administration (ANAF) has recently implemented the electronic garnishment system for communicating the enforcement documents to credit institutions by electronic means of remote transmission. The main advantage of the electronic garnishment system is that it eliminates deficiencies related to the delay in providing the bank account attachment in the event of discharging the tax…

Double Tax Treaty Romania – Bulgaria

Double taxation is when a person, natural or legal, pays income tax twice on the same source of income. This normally happens for persons who are working abroad or are engaged in international trade and is very burdensome for the tax payer. That is why in April 24, 2015, the double…

Double Tax Treaty Romania – Australia

Double taxation occurs when the same income from the same source is taxed by two different countries. To prevent this from happening, in February 2, 2000, the double tax treaty between Australia and Romania was signed. The treaty was called The Agreement Between Australia and Romania for the Avoidance of Double Taxation…

Taxation for Micro-Enterprises in Romania

According to the new changes to the Fiscal Code in Romania, micro-enterprises without employees are subject to the profit tax, as are consulting ones, starting with January 2023. Among the changes made is the elimination of the 3% income tax rate for this type of micro-enterprises that have no employees,…

How to Become an Accountant in Romania

In Romania, the certification of a Romanian chartered accountant is administrated by the Body of Expert and Licensed Accountants of Romania (CECCAR). Our Bucharest accounting firm can provide you detailed information on CECCAR certification. Becoming an accountant in Romania In accordance with the Regulation on the Access to the Profession of Expert Accountant and…

Double Tax Treaty Romania – Belgium

The double tax treaty between Romania and Belgium settles the taxation rules for the income obtained by the economic agents in one of the two countries. Belgium applies the exemption with progression method which implies lower taxation amounts. Our Romanian accountants are ready to offer counsel regarding the double taxation treaty and all its related legal…

Double Tax Treaty Romania – Austria

In November 2014, Romania signed a double tax treaty with Austria. This convention has as a goal to prevent tax evasion and to avoid the taxation of Austrian or Romanian companies in both countries. Moreover the treaty provides some tax reductions and some special taxation regulations for the participant states. Beneficiaries…

Property Tax in Romania

Any individual possessing a building located in Romania owes an annual tax. This levy needs to be paid to the local budget of the corresponding region, city or municipality where the house is situated. Our accounting firm in Romania can help you with proper information and guidance in order for you to pay the right taxes for your belongings.…