Corporate Income Tax and Local Taxes

Following the numerous changes occurred in the Romanian tax legislation, many companies encounter difficulties in accessing the related information in due time and, moreover, in accurately construing and implementing the new legislative provisions. Our goal as tax advisors is to monitor legislative changes, bring them to your attention (while considering their relevance to your specific business) and assist you in adequately implementing them.

Corporate Income Tax

We make periodical reviews of the treatment applied to various income and expense items and provide on-going assistance in interpreting legislative provisions and identifying the more practical solutions for your business.

Our specialists can offer you support in the following areas related to profit tax by:

  • Monitoring the more recent legislative amendments relevant to your business
  • Reviewing profit tax computation on a quarterly and year-end basis:
    • Analysis of non-deductible expenses and non-taxable revenues
    • Assistance on tax planning
  • Identifying potential incentives available for your business
  • Performing specific analysis of the fiscal treatment applicable to different situations, such as :
    • Finance and operating lease
    • Revaluation reserves
    • Accounting and fiscal depreciation
    • Allowances for receivables
    • Setting-up and reversal of reserves
    • Any other issues relevant to your specific case.

Local Taxes and Constructions Tax

Given the high number of taxes applicable in Romania, many companies fail to fulfil all their obligations, being thus subject to local tax inspectors’ audits which, more often than not, result in additional taxes, plus fines and penalties.

Such unpleasant situations could easily be avoided by resorting to the specialized assistance of our professionals.

Our team can assist you with:

  • Identifying all local taxes relevant to your business;
  • Assessing the amounts due and filing the relevant local tax returns;
  • Identifying potential incentives, preparing and submitting the relevant documentation in order to benefit from such incentives;
  • Monitoring the relevant legislative changes and assisting you in taking appropriate actions.