„If the cornerstone is inclined, the wall can not stand up straight.” Anonymous
Tax legislation is subject to permanent change. To maintain an overview, it is essential that you have a competent partner able to continuously optimize your business from tax point of view and who can assist you in complying with current legislation.
Our team provides you with general tax consultancy services, answering specific questions on various aspects of Romanian and international tax law and practice, providing ongoing assistance or on specific projects.
Our services include the following areas of expertise:
- Profit tax – permanent headquarters, business financing and interest deductibility, capital gains, transfer prices, etc;
- Tax withholding tax on non-resident income – Romanian legislation provisions vs. conventions on avoidance of double taxation concluded by Romania;
- Income Tax and Social Contributions,
- Tax incentives for investments and repatriation of profits;
- Local taxes (eg buildings, land, cars, etc.);
- Dividend tax;
- European Union directives on direct taxation
- Value Added Tax – Local Legislation and EU Directives;
- Custom duties.
Our tax review services can help you identify new opportunities to optimize total tax costs, lower your effective tax rate and minimize areas of potential tax risk. Also, through these services, potential possibilities for recovering the overpaid fees can be identified.
You can opt for both punctual and continuous verification on a quarterly or half-year basis as follows:
- Checking and analysis of documents used for accounting record and checking the calculation of taxes and duties,
- Identifying and assessing tax risks for the period under review,
- Checking calculation of taxes and tax statements
- Analyzing and identifying the possibilities of recovering or offsetting overpaid taxes,
- Identifying the best ways to correct errors and minimize future risks,
Assessing tax planning opportunities that can be addressed
As a result of statutory obligations to certify your annual statements by a tax consultant, our company offers you the following services:
- Certification of the annual corporate income tax return;
- Certification of Amending Statements;
- Certification of VAT returns with negative amount.
This kind of certification helps you identify in time possible errors in the interpretation of the legislation.
The AS GROUP annual certification services can be conducted interactively throughout the year or may be requested to correct errors from previous periods.
This service addresses residential or non-resident customers who are interested in obtaining VAT reimbursements and other taxes and duties (e.g. withholding tax, capital gains tax, etc.) paid in Romania.
Based on the expertise we have, we offer assistance to our clients in mediating the relationship with the Romanian tax authorities during the process of reimbursement procedures, which can be difficult and long-lasting.
Applying to our specialized services can save you valuable time for your business, avoiding investing your own resources in such actions.
As a response to the new business climate trend, we have developed a corporate consultancy service focused on corporate restructuring, focusing on fiscal and financial due diligence and financial restructuring to provide our clients with advice on the most effective strategies to minimize the tax costs associated with such a reorganization process as well as to reduce the risk of potential future disputes with the Romanian tax authorities.
What do we offer exactly?
Fiscal Due diligence
The objective is to efficiently create and structure the various merger and acquisition transactions by collecting, analyzing and evaluating the tax situation of the companies involved through the fiscal due diligence process. This process seeks to assess the tax risks associated with the intended business to be acquired for the period under review.
The fiscal due diligence process is carried out on the basis of mutually agreed procedures and is finalized by preparing a short summary of the identified tax issues, together with a detailed report on the associated risks and a quantification of these, based on existing information.
Our team assists either the buyer or the seller in the pre-acquisition stage as well as the pre- and post-acquisition tax restructuring.
Our tax structuring services include:
- Creating efficient investment structures;
- Financing alternatives for acquiring companies, leveraged buy-outs, securities stock exchanges, securities issues;
- Analysis of tax implications arising from reorganizations, mergers and acquisitions;
- Simulating multiple possible transaction scenarios and assessing their tax consequences;
- Tax planning for local and cross-border mergers.
In the current context of globalization of international trade and the expansion of multinational companies, the issue of transfer pricing has become one of the most important topic for multinationals and regional development companies. The tax authorities’ attention to the issue has become stronger, even in low-tax countries.
In this context, our team of specialized consultants will assist you in complying with the Romanian transfer pricing provisions through:
- Planning and consultancy services;
- Effective structuring (from the fiscal point of view of the production-distribution chains, in close connection with the implications of indirect taxation;
- Review of transfer pricing policies and documentation;
- Economic analysis to determine the profit margins applicable to transactions with affiliated persons in accordance with the free market principle;
- Drawing up and negotiating advance pricing agreements (“APAs”);
- Assistance in preparing the transfer pricing file;
- Representation and assistance during tax inspections
We provide a full range of tax representation services, assuming the role of a fiscal representative or empowered on behalf of our clients with regard to procedural obligations related to value added tax and corporate income tax / capital gains tax, based on profound knowledge of the fiscal system in Romania and excellent communication with tax authorities in our country.
Our team can assist you during announced or unannounced tax inspections performed by the Romanian tax authorities.
Our assisting services in tax inspections include, among others:
- Investigation of the facts and preparation of the basic arguments for formulating a possible appeal in accordance with the legal provisions in force
- Making an independent assessment of tax issues in the debate;
- Manage the fiscal control process
- Representing clients in front of the Romanian tax authorities during the final discussions with tax inspectors in order to present the technical arguments
- Estimate the strengths and weaknesses of our client’s approach to the tax issues in question, in order to assess the chances of success in the event of a lawsuit against Romanian tax authorities;
- Assistance in possible tax disputes, if the client decides to follow such action.
Why work with AS GROUP?
- Dynamic, customer-oriented team
- Significant experience in proposed areas of collaboration
- The key functions of the company can focus their efforts on bringing value to their business, knowing they have the support and expertise of a specialized partner
- The company’s management benefits from constant consultancy in solving delicate and important situations in the tax and accounting area