News Nexia International Press Releases Events Press Appearances Interruption of Tax Inspection – What Any Taxpayer Should Know

November 8, 2017 Most of the time the tax inspection is interrupted for good reasons, sometimes, but less justified. The interruption of the tax inspection thus prolongs its duration, otherwise limited to a maximum of 180 days for large taxpayers, 90 days for medium-sized taxpayers and 45 days for small taxpayers. In order to extend…

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Law No. 162/2017 on the obligation to carry out the Statutory Audit

October 30, 2017 Law No. 162/2017 of 6 July 2017, on the statutory audit of annual financial statements and consolidated annual financial statements and amending some normative acts, transposes at national level a number of regulations by which the function of the financial auditor within a company or institution can be consolidated, to contribute to…

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What documents to prepare for tax inspection

October 18, 2017 For a tax inspection, you have to prepare. What does that mean? Prepare and review your documents, which will certainly be requested at the beginning of the tax inspection and, if necessary, along the way: • Accounting balance sheets and check balances drawn up at the end of the year for the…

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Useful practical tips for your company to correctly address each stage of the tax inspection

October 12, 2017 From the selection of the companies that will be controlled at the actual start of the inspection and to the measures that can be taken after the inspection, we present to you the stages of the tax inspection and what it would be good to know or do for each of them.…

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Tax news: tax risk assessment procedures

October 4, 2017 In Official Gazette No. 780 of 03 October 2017 was published OpANAF no. 2856 of 02 October 2017, establishing: criteria for assessing tax risk in case of registration and cancellation of registration for value added tax purposes procedures for assessing tax risk for taxable persons registration procedures, upon request, for value added…

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Split VAT from the perspective of EU tax players

October 3, 2017 The following article is part of a series of articles that in partnership with Avocatnet.ro we offer for better understanding of taxation and for the healthy evolution of business in Romania: Split VAT, analysed by EU tax payers: We will have the only general system of its kind applicable. What’s it like in other…

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Tax control: a theoretical perspective. Why are tax inspections being carried out?

September 27, 2017 The term control is due to the Latin expression “contro rollus” which means the verification of the original act after the duplicate that is entrusted for this purpose to another person. As a concept, control consists in checking the objectives pursued and finding errors and deviations, shortcomings, deficiencies in a field of…

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Position of the Chamber of Tax Consultants (CCF) on the application of “split VAT”

September 12, 2017 One of the most current topics of the moment is the disaggregated payment of value added tax or as it is also called, “split VAT”. This method of VAT collection is optional from 1 October 2017 and becomes mandatory from 1 January 2018. On this subject, the Chamber of Tax Consultants expressed…

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Measures to increase the employment of persons with disabilities

August 22, 2017 At the end of 2016, in Romania the number of persons with disabilities who were employed was less than 35,000. In order to give people with disabilities the opportunity to live autonomously and contribute to all aspects of life, without being marginalized or excluded, the Government has issued OUG No. 60/2017 for…

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NEXIA CRG’s position on the proposal to introduce a “split-VAT” system

August 16, 2017 In view of the project proposed by the Romanian Government according to which “from 1 September 2017 we will introduce an improved VAT collection mechanism (split payment) on the model used in Italy, which reduces almost total VAT evasions declared and not paid at present” we have analysed the following aspects related…

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