Bucharest, 3rd District, 13 Decebal Boulevard
Suite S15, 1st Floor, Apt. 44
office@contabiz.ro
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Cash Register with Electronic Journal

Government Emergency Ordinance no. 91/2014 for the amendment and completion of GEO no. 28/1999, provides for the replacement of the log book reels on paper support with electronic log bookmarkers. The acquisition of new electronic logging devices can only be done from economic operators holding…

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Quarterly Dividends

Starting with July 12, 2018, Law no. 163/2018 which provides for the option of the interim or quarterly distribution of dividends through the inclusion in the interim financial statements as receivables to shareholders/associates. Thus, economic operators who opt for dividend distribution on a quarterly basis…

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VAT Exemption Ceiling Increased to 88.500€

The Council of the European Union approved in October 2017 the request of Romania to lift the value-added tax exemption (T.V.A.) to the value of 88,500 €. The measure approved by the Council of the European Union will significantly reduce its VAT obligations for small…

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Changes to the General Account Plan

In October 2017, the Ministry of Finance published an OMFP Project on completing some accounting regulations, namely the introduction of two asset accounts in the General Accounts plan, 5126 "RON bank accounts - VAT deducted" and 5127 "Foreign currency account - split VAT". Through them,…

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Risk Criteria – Granting or Removing VAT Code

At the beginning of October 2017, the ANAF President issued the Order on setting criteria for the assessment of fiscal risk in the case of registration and cancellation of VAT registration (VAT). The principle of the Order requires tax authorities not to register for VAT…

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The main elements of the Split VAT Payment mechanism

Government Ordinance no. 23/2017 on the disbursement of VAT, published in the Official Gazette of Romania of August 31, 2017, provides for the optional application of the VAT split payment mechanism between 1 October and 31 December 2017 and its mandatory application as of 1…

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