Finance News by Mazars Romania October 2022

Mon | 31.10.2022

Accounting/audit/tax

Finance News by Mazars Romania October 2022

The impact of the economic crisis on transfer pricing, analysis by Mazars

Mazars’ specialists, from all over the world, have prepared an analysis of the impact the economic crisis in 2022 has had on global transfer pricing.

The material covers the following subjects:

How does the 2022 crisis impact the profitability of limited risk affiliated entities?
Can comparability studies take into consideration the effects of the crisis?
What are the consequences of the 2022 crisis on the intragroup financing?
How should multinational entities (MNEs) manage the consequences of the crisis during tax audits?

Mazars’ position is taken in light of the OECD Transfer Pricing Guidelines published in January 2022, and the OECD Guidance on the transfer pricing implications of the COVID-19 pandemic published on 18 December 2020, which provides comments on the application of the arm’s length principle and the OECD Transfer Pricing Guidelines to issues that may arise or be exacerbated in the context of the crisis (hereinafter “OECD Guidance”).

Read more info HERE.

Important changes brought to the Fiscal Code. The impact on taxpayers, explained by Mazars’ experts

2022 has brought several changes in the legislation, from ANAF's digitalisation with RO e-Invoice and RO e-Transport, to the publication of O.G. no. 16/2022 which significantly changed the Fiscal Code.

Since the entry into force of the RO e-Invoice and RO e-Transport systems, ANAF has issued new clarifications and several updates concerning the obligations deadlines. Moreover, with the publication of the O.G. no. 16/2022 in July 2022, a series of new regulations concerning the micro-enterprise regime, the deductions for taxation of wages, the social contributions & part-time wages, as well as the indirect taxes and local taxes have been introduced.

Find out more about:

Income from wages changes

Overcharging individual part-time employment contracts;
Fiscal facilities changes in the field of construction and the agri-food sector;
Changes concerning the salary benefits starting January 1, 2023;
The new way of granting personal deductions,

Fiscal changes concerning the income from independent and private activities

New rules for determining social contributions;
Other changes applicable to private income obtained by individuals.

New taxation rules concerning micro-enterprises and local taxes

New conditions for the micro-enterprise regime, applicable from January 1, 2023;
Changes in determining the tax on buildings.

Mazars’ specialists are ready to support all the taxpayers who need clarifications for the implementation of the new rules.

Read more info HERE.

CEE Tax & Payroll Newsletter, by Mazars

The CEE Tax & Payroll Newsletter aims to share Mazars’ latest news on tax, labour, and payroll legislation in the Central and Eastern Europe region, with the scope of helping you to prepare for the changes that could lie ahead in the following countries: Austria, Croatia, Czech Republic, Hungary, Poland, Romania, Slovakia, Slovenia, and Ukraine.

Insights to guide you through today’s evolving regional tax, labour, and payroll landscape

Payroll taxation in the Central and Eastern European countries by Ana Luburić, Tax Manager, Global mobility services, Mazars in Croatia and Marko Ferić, Tax supervisor, Global mobility services, Mazars, Croatia.

Inflation relief package impacting payroll in Austria & Romania by Monika Raidl, Head of HR & Payroll, Mazars, Austria and Cătălina Călinescu, HR & Payroll Director, Mazars, Romania.

Read more info HERE.