Ioana Costea

According to the Tax Code, as of 2016, with some exceptions, any person who owns a building located in Romania shall be required to pay an annual tax for that building. The approval of the New Tax Code will radically change the real estate property tax system, mostly affecting natural persons who own non-residential buildings used for business purposes, namely commercial premises or offices.

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.