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Certification of Tax Returns in Romania

According to the Romanian Law, the certification of tax returns must be performed by a tax consultant who acquired a special status and is registered as an active member in the register of tax consultants and tax consulting firms. This decision is taken in accordance with the rules established by Ordinance no. 71/2001 that provides that the tax advisory work, including certification, can be done only by active tax advisers. Our Romanian accountants can tell you more about tax return in Romania and its implications.

Is there a tax return in Romania?

Yes, Romania has a tax return. Regarding annual tax returns, these are submitted by May 25 of each year, for the past fiscal year. But in the case of EU residents in Romania, who have income in this country, the informative declaration D402 must be submitted by February 28, and the D224 form in December, with information on income tax for the respective year.

We recommend that you benefit from the support of our Romanian accountants if you want to submit tax returns involving tax return in Romania. You can get our help for various aspects related to accounting and taxation for individuals and legal entities.

What happens if there is no reciprocity agreement for a tax refund in Romania?

Even if Romania is not involved in reciprocity agreements, the legislation, and more precisely the 13th Directive and the 6th Title of the Fiscal Code with the changes made, allows refunds to taxable persons from countries outside the European Union. In Romania, tax representatives are needed for taxable persons before the refund application is made.

Thus, this tax representative can handle the preparation and completion of the necessary documents, as well as the submission to the relevant tax authorities. Here is information about the refund claim:

  • Tax return applications can be made within 6 months from the end of the calendar year.
  • The Fiscal Administration Authority to which tax representatives belong is the institution that takes over the declarations and applications for tax return in Romania.
  • We specify that the minimum amount of VAT that can be refunded is RON 200.
  • The tax return application and the decision in this regard are usually issued approximately 6 months from the date of registration after the competent tax bodies make the necessary analyses.

We remind you that you can ask for the help of a tax representative from our team if you are interested in a tax refund in Romania. We are at your disposal with complete accounting services, including audit, payroll, bookkeeping, and more.

Corrections made for tax refund in Romania

The same law on the certification of tax returns in Romania provides that taxpayers have the right to correct tax returns filed with the tax authority, where errors exist in the original statement. Below you can find useful information in this direction:

  • If the corrections are significant it can be argued that this correction affects public order, making it necessary to establish some rules in place to protect the general interests of society, in this case represented by the correct payment of taxes.
  • In order to meet these imperatives, the law provides that the corrective statement must be validated by an independent tax specialist, on the basis of a contract between the taxpayer and tax specialist for certification services.
  • The certification of tax returns in Romania intends to support the taxpayer, as there can be avoided the penalties fees for not declaring the tax returns and not paying the correct tax liability for the general consolidated budget.
  • By this measure the state intends to avoid the abuse in exercising the right to correct a tax return by using it to create some fiscal advantages (for example avoiding or stopping enforcement, obtaining a tax certificate without obligation).

Who approves the certification of tax return in Romania?

The certification of tax returns in Romania is approved by standards issued by the Chamber of Tax Advisors with the Minister of Public Finance approval and the procedure for submission of the tax certification document (prepared by tax consultant), exchanging information between the National Agency for Fiscal Administration and the Chamber of Tax Consultants and how to apply the penalty for non-certification are approved by the Minister of Public Finance.

Some details on how to register as a tax resident in Romania

tax resident in Romania can be both a natural person and a company. Practically, under this status, the fiscal obligations in this country can be determined, taking into account the registration for the payment of taxes, as by step. Having income registered in Romania, following the activities performed for more than 183 days, means that they must be declared to know the type of taxes that must be paid.

In this sense, you must receive a Tax Residency Certificate that contains information about the fiscal residency of a company or natural person with activities in Romania. You can thus avoid double taxation, considering that Romania has signed several treaties in this regard. In this case, we specify that ANAF is the institution where you can register for tax purposes and which issues Tax Residency Certificates.

Making investments in Romania

Due to its optimal geo-strategic position, Romania is an excellent business destination and is open to various types of investments aimed at the most important sectors. We mention some interesting data in this regard:

  • The current GDP is set at USD 284.9 billion.
  • Romania’s economy grew by 5.8% in the first half of 2022.
  • In the first 8 months of 2022, the fiscal deficit declined to 2.4%.

For information about tax return in Romania, you can contact our accounting firm in Romania.