Ioana Varga

In the 35th issue of Today Software Magazine, we brought to your attention some of the fiscal changes likely to affect the taxation of income derived from independent activities, as outlined in the draft amendment of the Fiscal Code, currently under debate. Considering that after heated debates and reviews in the Parliament, the final version of the New Fiscal Code was eventually published on September 10, we will take this opportunity to resume the analysis of the changes and to draw some conclusions, pointing out how it could affect your 2016 budget. Although the final version of the Fiscal Code also refers to some changes effective from 2017, in our opinion it is premature to focus on them, given the obvious tendency to continuously revise and amend any statutory rule and regulation.

Lately, more and more information has emerged on how to access irredeemable European funds, business accelerators and ideas; however, everyone seems to overlook the part about the actual company establishment. For some of those who want to start a business this step seems to be very difficult to overcome precisely due to the lack of information. Likewise, there are others who are reluctant to start a business just because they think that setting up an LLC is a highly complicated procedure and moreover, managing a company seems even more difficult.

By definition, a self-employed individual is a business entity authorised to carry out any business activity permissible under the law, using mainly its own labour. The business activities can cover all the fields, trades, occupations or professions which are not expressly forbidden under the law for self-employment. The business activities in which a self-employed person can engage as PFA are those listed in the NACE Code and not exclusively regulated by a specific law. Any business activity conducted on a permanent, occasional or temporary basis in Romania by PFAs should be registered and licensed, according to the provisions of the Government Emergency Ordinance no. 44/2008. The operating licence does not exempt PFAs from the obligation to secure, prior to commencement of the activity, all the authorisations, permits, licenses, etc. stipulated by special laws for certain business activities.

In the case of small and medium-sized enterprises and particularly in the case of start-up companies, the accounting department or the accounting consultants serve as support for the economic and financial decision-making. Therefore, the useful financial-accounting information herein provided will address the accounting issues faced by developers, designers and IT Companies from Cluj-Napoca and elsewhere. For this issue of the magazine, we chose to offer some guidelines on how to access income tax exemptions for developers.