Recent Posts by Irina Iteanu

Christmas gift vouchers : fiscal conditions in Romania

With Christmas just around the corner, the whole month of December is basically synonymous with gifts and gift-giving. All over the world everybody’s mind is set on how pleasant it will be to make and receive presents on this special occasion. Therefore, as payroll professionnals, we can’t but think about gift vouchers and their fiscal…
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Supplementary Tax Deduction for Incomes up to 3000 Lei

Another positive impact of the new Romanian Fiscal Code comes in the form of a supplementary tax deduction granted to the employees who are parents, if their gross salary is below the amount of 3000 lei (≈667 €). We further on elaborate on the specific conditions allowing such a tax deduction, as well as exemplify…
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New Tax Regulation for Gift Vouchers in Romania

The new Romanian Fiscal Code came into force on the 1st of January 2016, bringing of course some notable regulatory changes. One of them refers to the tax treatment of gift vouchers – those small valuable papers also known as gift certificates or gift cards. THE GRANTING OF GIFT VOUCHERSA company operating in Romanian company can…
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New Fiscal Code: Changes for Registered Freelancers in 2016

Starting 2016, we will encounter a significant change when it comes to PFA taxation in Romaia. What is a PFA you might ask? For those of you non-familliar with this abbreviation, it is actually the Romanian acronym for “Persoana Fizica Autorizata” (registered freelancer).In a nutshell, the new Fiscal Code stipulates that taxation will go down for…
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Hiring in Romania: process and procedures for foreign companies (2)

A few weeks ago, we started explaining the idiosyncrasies of hiring a Romanian citizen as a non-resident company (from an EU country). After differentiating between the possible situations and placing them within the EU legal framework, our intention was to depict the hiring procedure for foreign companies as clearly as possible. In this sense, we…
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Hiring in Romania: process and procedures for foreign companies (1)

As the international business context becomes increasingly complex, so do the HR processes necessary to accommodate the global workforce. Among them, the hiring process is one of particular importance, since the best way to ensure optimal strategy implementation for any company is to hire the right people.Beyond the substantive aspects – the intrinsic part of…
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10 good reasons to outsource payroll

Against widespread belief, payroll outsourcing is not a practice reserved for big multinational corporations alone. Quite the contrary, even micro-enterprises have grown accustomed to outsourcing their payroll to their Certified Accountants, who in turn also outsource this task more and more to other specialized service providers. The only entities still reluctant to adopting this solution…
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