Taxation Services in Romania
Romania offers a dynamic business environment with favorable tax regulations, making it an attractive destination for businesses and investors. However, navigating Romania’s taxation system requires a deep understanding of local laws, compliance requirements, and international tax treaties. At Fortuna Pro Consultant, we provide comprehensive taxation services tailored to meet the needs of businesses and individuals in Romania.
With over a decade of experience, our team ensures your tax obligations are met efficiently and accurately, helping you optimize tax liabilities and focus on growth.
Why Choose Taxation Services in Romania?
Romania’s taxation system includes various obligations such as corporate tax, VAT, and personal income tax, each governed by specific regulations. Proper tax management is essential for:
- Ensuring compliance with ANAF (National Agency for Fiscal Administration) regulations.
- Avoiding penalties and interest due to non-compliance or late filings.
- Optimizing tax savings through strategic planning.
- Gaining financial clarity to support business decisions and sustainability.
Our Taxation Services in Romania
1. Corporate Tax Services
Romania imposes a corporate tax of 16% on profits, with reduced rates for micro-enterprises. We provide:
- Preparation and submission of corporate tax returns.
- Advisory on allowable deductions and exemptions to reduce liabilities.
- Assistance with quarterly and annual tax payments.
- Advisory on structuring operations for optimal tax efficiency.
2. Value Added Tax (VAT) Services
VAT compliance is critical for businesses operating in Romania. Our VAT services include:
- VAT registration and deregistration with ANAF.
- Preparation and filing of VAT returns, including reverse charge mechanisms.
- Advisory on reduced VAT rates (5%, 9%) and exemptions applicable in Romania.
- Assistance with VAT refunds for domestic and international transactions.
3. Personal Income Tax Services
Romania has a flat personal income tax rate of 10% for residents and non-residents. We assist individuals with:
- Preparation and filing of annual income tax returns.
- Advisory on allowable deductions for housing, education, and healthcare expenses.
- Support for expatriates and non-residents in managing Romanian tax obligations.
- Assistance with income tax refunds and compliance.
4. Social Security Contributions
Employers and employees in Romania are required to contribute to social security and healthcare systems. Our services include:
- Calculation and submission of social security and health insurance contributions.
- Advisory on exemptions for expatriates under bilateral agreements.
- Compliance with employment and labor regulations.
5. Tax Planning and Advisory
Strategic tax planning can help businesses and individuals minimize liabilities and optimize resources. Our tax advisory services include:
- Identifying tax-saving opportunities through deductions and incentives.
- Advisory on structuring businesses for tax efficiency.
- Guidance on international tax treaties to avoid double taxation.
- Planning for property taxes, inheritance taxes, and other obligations.
6. International Tax Services
For businesses and individuals involved in cross-border transactions, we provide:
- Advisory on Romania’s double taxation treaties with over 80 countries.
- Assistance with transfer pricing documentation and compliance.
- Managing withholding taxes on dividends, royalties, and other income.
- Advisory on tax obligations for foreign branches and subsidiaries in Romania.
7. Tax Audit and Dispute Resolution
In the event of a tax audit or dispute, our team provides expert support:
- Preparation and representation during tax audits conducted by ANAF.
- Resolving disputes and negotiating settlements with tax authorities.
- Advisory on appeals and litigation procedures, if necessary.
Industries We Serve
We provide tailored taxation services to a wide range of industries in Romania, including:
- Manufacturing and Export: VAT compliance for exports and supply chain tax optimization.
- Retail and E-Commerce: Streamlining VAT reporting and cross-border tax obligations.
- Real Estate and Construction: Advisory on property taxes, VAT on construction projects, and capital gains tax.
- Technology and Startups: Assistance with R&D tax incentives and investor reporting.
- Hospitality and Tourism: Managing VAT compliance and tax planning for seasonal operations.
Why Choose Us for Taxation Services in Romania?
Our taxation services cater to a wide range of industries in Portugal, including:
1. Expertise in Romanian Tax Laws
Our team has extensive knowledge of Romanian tax regulations and stays updated with the latest legal changes to ensure compliance.
2. Tailored Solutions
We provide customized tax services designed to meet your specific needs, whether you’re an individual, SME, or multinational corporation.
3. Advanced Technology
Using leading tax software, we streamline processes, reduce errors, and ensure timely submissions.
4. Multilingual Support
We offer services in multiple languages, including English and Romanian, ensuring clear communication and support for international clients.
5. Transparent Pricing
Our pricing is competitive and transparent, with no hidden fees, offering excellent value for our expertise.
Overview of the Romanian Tax System
Corporate Tax: Standard rate of 16%, with a 1% or 3% rate for micro-enterprises, depending on turnover and employee criteria.
VAT: Standard VAT rate is 19%, with reduced rates of 5% for specific goods (e.g., housing) and 9% for food, medicines, and tourism services.
Personal Income Tax: A flat rate of 10% applies to most types of income.
Social Contributions: Employers and employees must contribute to social security and health insurance, totaling approximately 37.25% of gross salary.
Property Tax: Rates vary by municipality, typically between 0.08% and 0.2% for residential properties and higher for non-residential properties.
Our Process
- Initial Consultation: Understand your tax needs and challenges.
- Customized Tax Strategy: Develop a tailored tax plan to optimize compliance and efficiency.
- Implementation: Handle filings, payments, and reporting on your behalf.
- Ongoing Support: Provide continuous advisory and assistance with all tax-related matters.