Corporate Income Tax and Local Taxes

The Romanian tax legislation is under continuous modification, and consequently, it can be challenging for companies to monitor the respective changes and effectively implement them. This is where our role as tax advisors comes in: 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

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

  • Monitoring the more recent legislative amendments relevant to your business;
  • Providing day-to-day tax advice with respect to the tax treatment of expenses and revenues at the level of the company, through flexible arrangements under the form of hotlines;
  • Reviewing profit tax computations and tax returns on a quarterly and year-end basis;
  • Identifying potential tax incentives available for your business and providing assistance with the implementation (e.g. tax exemption on reinvested profits);
  • Performing specific analysis of the fiscal treatment applicable to different situations, such as, among others:

            a. Finance and operating lease

            b. Revaluation reserves

            c. Accounting and fiscal depreciation

            d. Allowances for receivables

            e. Setting-up and reversal of reserves

Local Taxes and Constructions Tax

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

Our team can assist you with:

  • Identifying all local taxes relevant to your business;
  • Assessing the amounts due and filing of the relevant local tax returns;