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We are taking this opportunity to remind you of the 3% discount from the corporate income tax according to GEO no. 107/2024. Thus, corporate taxpayers, including those taxpayers that apply the minimum turnover tax, as well as microenterprise tax, can benefit from a 3% discount from the annual corporate income tax for the fiscal year 2024/the fiscal year starting in 2024.
In recent years, Romania has made notable progress in promoting gender equality, particularly regarding female representation in leadership positions.
In 2023, the European Union adopted Directive (EU) 2023/970 on pay transparency, marking a significant step forward in the effort to eliminate gender-based pay gaps across the European Union.
2025 marks the 10-year milestone since the release of the OECD’s final BEPS package reports in 2015.
On 2 April 2025, new import tariffs were announced, both general and for specific products imported into the USA. A general tariff of 10% on imports from all countries has been imposed and will enter into effect on 5 April 2025.
On 15 January 2025, the Organisation for Economic Co-operation and Development (OECD) published a Central Record of legislation with transitional qualified status for the purposes of the Global Minimum Tax (Pillar 2).
Due to the growing interest of the Romanian tax authorities in transactions between affiliated companies, transfer pricing audits have become more frequent.
On the last day of 2024, the Romanian Government adopted legislative changes through Government Emergency Ordinance no. 156/2024 (GEO), which impacts both legal entities and private individuals.
Navigate the complexities of HR and payroll management with confidence. Our comprehensive guide empowers businesses of all sizes to transform their workforce management practices and drive sustainable growth.
Forvis Mazars has secured the 4th position in Central & Eastern Europe in relation to the number of successful M&A Transaction Services projects advised based on the “Mergermarket CEE Accountant League Table 2024”.
On 2 December 2024, Regulation 2952/2024 was published in the Official Journal of the European Union, establishing the template and electronic reporting format for the submission of information in income tax reports -Public Country-by-Country Reporting (Public CbCR).
In this article, we will focus on exploring the ways climate change is impacting the world of business and finance and how we can address the requirement for a “robust climate risk and vulnerability assessment” as stated in the EU Green Taxonomy (Regulation EU 2020/852).
We are pleased to share our updated guide on doing business in Romania. Whether you are considering entering the Romanian market or already running a business here, this comprehensive resource offers clear, practical information to support your business decisions.
We are taking this opportunity to inform you of the new legislative provisions allowing the waiver of ancillary tax liabilities related to principal tax liabilities with due dates up to and including 31 August 2024.
14 August 2024 Mergers and Acquisitions (M&A) in Romania have become an increasingly dynamic sector, reflecting the country's evolving economic landscape and integration into the global markets.
Forvis Mazars is proud to continue its sponsorship of the BVB Arena, the flagship program of the Bucharest Stock Exchange (BVB) for Romanian companies.
27 June 2024 The obligation to respect the arm's length principle in transactions between related parties is set out in Article 19 of the Fiscal Code. Recently, the number of tax audits in the transfer pricing area has increased significantly. Companies that continue to experience losses or low profitability are still at high risk in a transfer pricing audit.
Choosing the business scope is one of the most important strategic decisions an entrepreneur has to make when starting a new business. It defines the scope and area of operations of the future company, setting the framework for the products, services and markets it will address. Therefore, the right choice of scope can have a significant effect on the success and longevity of your business.
The first quarter does not bring much news on IFRS. However, several clarifications have been made by the International Accounting Standards Board (IASB) regarding ongoing discussions.
Mazars in CEE ranks #3 by number of successful M&A deals advised and #5 by disclosed M&A deal value according to ‘Mergermarket Accountant League Table 2023’
18 January 2024
24 November 2023
31 October 2023 Globalisation and the rapid growth of international trade, facilitated in recent years by the digital revolution, has brought complex regulatory and tax issues to the forefront of every multinational organisation’s agenda. In the wake of media scrutiny and international projects led by the Organisation of Economic Cooperation and Development (OECD), transfer pricing has remained an...
26 October 2023 In the mining industry, Base Erosion and Profit Shifting (BEPS) represents a challenging concept to identify and, implicitly, eliminate due to the limited capabilities of tax authorities in developing countries rich in natural resources.
12 October 2023 On 4 October 2023, a draft law was published concerning the global minimum level of taxation for multinational groups and large-scale domestic groups operating in Romania.
6 September 2023 Digitalisation has become a crucial factor for modern businesses. In the rapidly advancing technological landscape, the integration of digital strategies has shifted from a novelty to an essential demand.
5 September 2023 In an economic context marked by the consequences of the COVID-19 pandemic, discussions regarding the necessity of increasing budget revenues in Romania have become omnipresent, even despite the economic growth in 2022 that exceeded the European average. In addition, the social problems generated by last year's inflationary environment, which persist to this day, make it difficult...
16 August 2023 The Country by Country Report is on a journey from being a fiscal authority filing cabinet filler, to public reporting and a core component of Pillar 2 – Globe with many countries taking slightly different approaches.
31 July 2023 On 1 February 2023, the Organisation for Economic Co-operation and Development (‘OECD’) published the Manual on the Handling of Multilateral Mutual Agreement Procedures and Advance Pricing Arrangements (‘the Manual’).
We are pleased to present our comprehensive guide, 'Doing Business in Romania'. This resource has been meticulously crafted to provide a detailed overview of the Romanian market, offering insights into the process of establishing a business, understanding the taxation system, labour laws, accounting regulations, and audit requirements.
3 July 2023 Connecting the dots: the EU’s Corporate Sustainability Reporting Directive, CO2 footprint, and packaging management
28 June 2023 The increasing pressures generated by the globalisation process, together with the economic context of the last years, have had a negative impact on the cash flow of companies, by widening the time gap that ties up the availability of money in various forms of lending. In general, maintaining the cash flow is a key factor to the success of any company, so given the current complex environment,...
21 June 2023 1. Scope of OECD and EU tax reform Action 1 of OECD’s BEPS Action Reports from 2015 outlined the difficulties generated by the digitalisation of the economy from a tax perspective.
4 April 2023 In 2021, the growing interest and support for increased tax transparency, coupled with a heightened public interest regarding this matter, have urged the European Union (EU) to accelerate the implementation of the Public Country-by-Country Reporting (Public CbCR), through the (EU) Directive 2021/2101.
A global workforce presents challenges that require expert HR knowledge and specialised processes. HR & payroll legislation is a highly complex area. With rules and policies so often in flux, processing HR & payroll in-house is often costly and inefficient.
8 February 2023 With the first month of the year already passed, and while anticipating the imminent sustainability reporting requirements, one of the most important 2023 resolutions for C-suite leaders refers to ensuring that their business becomes more “future-proof” through integrating sustainability into their core operations.
6 February 2023 The past year has not brought many changes when it comes to IFRS, but through this newsletter, we want to offer you an overview of the new texts applicable on 31 December 2022 and ESMA's recommendations, to help you close this financial year.
20 companies listed on the Bucharest Stock Exchange received maximum scores for investor communication, out of 120 companies evaluated
For the seventh year running, Mazars is ranked fifth by Mergermarket for the number of successful M&A Transaction Services projects advised in 2022 according to the Accountant League Table for Central & Eastern Europe.
Over the past decade, but especially in the last two years, the entire business environment was challenged with meeting the demands of many brisk legislative changes and increased audits. And, as the digital wave has become stronger, the adoption of new technologies in the tax function has also gained further momentum.
25 May 2022 In recent years, the number of tax audits focused on direct taxes and transfer pricing has become significant and 2022 brings a surge in this regard.
The Romanian entrepreneurs, partners and supporters, as well as employees of Romanian companies, can nominate until May 31, a company to be included in the Made in Romania program. Nominations can be submitted on www.investingromania.com, a platform that continues to offer 24/7 the possibility of directly connecting entrepreneurs with investors and consultants, as well as with other entrepreneurs.
We are taking this opportunity to inform you of the legislative provisions included in the Emergency Ordinance no. 153/2020, which allows taxpayers to benefit from discounts between 2% and 15%, depending on the net asset position as reflected in the annual financial statements.
We live in a world where we want to have access to the most recent information, from anywhere and at any time. Data security standards and legislation are also becoming increasingly important. That is why we created Signals, our digital collaboration platform to collaborate with our clients.
For the sixth year running, Mazars is ranked fifth by Mergermarket for the number of successful M&A Transaction Services projects advised in 2021 according to the Accountant League Table for Central & Eastern Europe.
8 March 2022
14 December 2021
The OECD has long attempted to create a harmonized playing field for transfer pricing documentation, although countries have only recently started to apply a more consistent approach based on the recommendations provided.
This year, the European Union (EU) will make another step towards the definitive VAT system, a measure based on the VAT Action Plan, published by the EU Commission in 2017. Starting with 1 July 2021, important VAT and customs changes will be introduced for e-commerce, therefore, these amendments are long awaited.
Over the last few years, in-depth tax analysis and political debates were triggered by the need to maintain a balance between supporting the development of the global digital economy, while maintaining a fair and largely accepted model of allocating the taxing rights between states for the revenues that were generated worldwide by such global digital economy.
This year has started with a relatively stable IFRS framework in which to prepare the financial statements for this financial year, given the limited number and scope of the standards that came into force on 1 January.
According to a Gartner survey made in March 2020, 74% of CFOs expect to shift some employees to remote work permanently. This is a big change even if we talk about some employees in 74% of the companies from the markets. It is a change on multiple layers that may impact positively the happiness level in those companies if managed properly....
We invite you to read interviews with our specialists on various trends.
We invite you to read about the people behind successful businesses and insights into organisational culture.
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