Frequently Asked Questions
BEHIND A SUCCESSFUL ENTREPRENEUR THERE IS ALWAYS A GREAT CONSULTANT
Often, the Romanian entrepreneur is tempted to try to do everything by himself, from business strategy to tax statements, postponing the moment to entrust his business to a specialist. For this reason, many businesses fail, therefore, it is best to turn to a tax consultant, who can offer specialised support.
How is the consulting process going?
- Once we receive the request, we have a telephone discussion or we set up a meeting in which you will find out everything that this customised service can do for you/your company
- We issue an invoice of 50% of the total price
- We make research, we analyse and draft our consulting report
- After the consultancy process, we send you the invoice with the remaining price difference. We also add a spreadsheet of our work
Can you come to our headquarters?
Upon request, our consultants can come to your company’s headquarters, if located in Bucharest. For projects involving a detailed accountancy expertise or for large projects, we also travel outside Bucharest.
What is the minimum service fee for which I can contact you?
There is no minimum fee. The consultancy service is differentiated based on the complexity and the hours spent for solution. You can also contact us for just one question.
How much time does an expertise take?
The time varies depending on the complexity of the project. However, regardless of its peculiarities, we are committed to perform the accounting expertise in maximum 20 business days.
How much does the consulting service cost?
- Our tariff is 100 euro/hour
- The total price will be determined according to the complexity of the request
- Before we start the project, we send you an estimate of the required working hours and the fee offer
- For transparency, the invoice you receive when completing the consultancy project will include a spreadsheet of our activities
What do we need to provide if we want to outsource our accounting?
The number of documents depends on the size of the company and its specific activity. Our team will send you a customised list of documents required to outsource consulting.
What is the tax rate for dividends paid to non-resident shareholders?
The tax rate is 5% of the gross dividend paid to a Romanian legal person. The amount is declared and paid to the state budget by the 25th of the month following the payment. There are situations in which companies are exempt from tax for dividends earned by non-resident shareholders. You can contact us for details about it.
The petty cash amount is considerable. Could you please tell me what could be the tax implications?
There are various reasons why the written balance (the one in the papers) differs from the factual one (cash). From profits distributed in advance to settlements recorded wrongly, we can identify the cause with the help of our new accounting analysis and we can suggest the optimal solution for your specific business.
I do not have a firm, I am a natural person – real estate developer. Do you know what the tax quota I owe is if I sell a property?
A real estate developer registered as a natural person paying VAT owes a 10% tax rate + social insurance contributions. We can calculate your payment amount based on your business activity and transactions.
Is VAT charged on selling or renting a property? Can you help me with the calculations?
Renting a property is exempt from VAT – without deduction, while the sale may differ, depending on the situation. Ask for an offer and we deliver customised calculation methods.
How is the final tax for copyright income calculated?
Through the consulting service, we can help you understand:
- The calculation method
- Implications of the income
- Tax obligations
What benefits can I give my employees and what’s their taxation treatment?
Your employees may receive plenty of benefits, with different taxation treatments. The benefits can be either financial bonuses, gift/food vouchers, holiday vouchers, medical subscriptions, additional retirement funds, or even gifts.
Contact us and receive the best solutions for your company.
Can you help me with the taxation of prize money?
Prize money is classified as income from other sources and may be taxed at a rate of 10%. For an accurate calculation and tailored solutions for your business, contact us providing details.
How long does it take to get an offer?
After we are contacted:
- We set up a meeting to get to know each other and to understand the business as a whole
- We request more details by phone and e-mail
- The offer will be customised and tailored to client’s needs and will be sent within maxim 2 days