The implementation of SAF-T Romania will bring a significant transformation to tax reporting for non-resident taxpayers. Starting from January 2025, new compliance requirements will be in effect, and the initial filing deadline is set for February 28, 2025. This applies to all transactions carried out in January by non-resident companies registered for VAT. A grace period has been granted by the Romanian tax authorities until July 31, 2025, but failing to comply after this date may result in penalties of up to 1,000 EUR for late submissions.

Double taxation presents a crucial challenge for entities operating across Romania and Belgium. To address this issue, both nations have established a Double Taxation Agreement (DTA) that effectively prevents income from being subject to taxation in both jurisdictions simultaneously. Let's explore how this agreement functions between these two countries in 2024:

Overview of the Double Taxation Agreement (DTA) between Romania and Belgium

One of the common concerns for new entrepreneurs in Romania is the timing for a new company to distribute dividends. It is natural for business owners to be curious about the speed at which they can access their company's profits through dividends. Shareholders typically aim to receive their share of the profits at the earliest opportunity.

Is de Roemeense wereld van e-facturatie klaar om veroverd te worden?

Stop met zoeken! We zijn verheugd je onze video "E-factura in Roemenië: A Crash Course", die dient als complete handleiding voor de aanpassing aan de verplichte invoering van e-facturatie. Deze boeiende video laat mijn kennis zien en biedt een uitgebreide, stap-voor-stap uitleg over het effectief beheren van de nieuwe fiscale rapportageprocedures.

Romania has recently implemented new regulations and penalties for its upcoming B2B e-invoicing regime, which will be launched in two phases in 2024. The government emergency ordinance 115/2023 introduces several amendments, including exemptions for simplified invoices, exports, non-resident counterparties, and B2C transactions. Additionally, the grace period for fines has been extended until July 2024.

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The micro company is a very interesting company as the tax levels are very low. It can be used to save money as it is a company it is fully legal (piggy bank). With this company you can invest and when you make the pension you simply dissolve it and then the remaining money will be transferred after legal dissolvation in conformity with law 31/1990 to your personal account.

1. Tax Rate: