Corporate Tax 2010 - BMR Advisors
Corporate Tax 2010 - BMR Advisors
Corporate Tax 2010 - BMR Advisors
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Pachiu & Associates<br />
Romania<br />
7 Anti-avoidance<br />
7.1 How does Romania address the issue of preventing tax<br />
avoidance For example, is there a general anti-avoidance<br />
rule or a disclosure rule imposing a requirement to<br />
disclose avoidance schemes in advance of the company’s<br />
tax return being submitted<br />
After Romania’s accession to the EU on January 1 2007, the Fiscal<br />
Code enacted, in Title V, Chapter V, the provisions of the Directive<br />
77/799/CEE regarding mutual assistance between competent<br />
authorities of the EU Member States in the field of direct taxation<br />
and taxation insurance bonuses, as amended. Consequently, the<br />
fiscal authorities of the Member States shall exchange any<br />
information which may entitle them to fairly establish the tax on<br />
income and capital obtained by an entity under their jurisdiction.<br />
Such information exchange may occur (i) upon the request of the<br />
competent fiscal authority, (ii) automatically, as part of the<br />
permanent exchange of information procedures between the<br />
competent authorities in the Member States, or (iii) spontaneously,<br />
when a competent authority of a Member State transmits<br />
information to the competent authority in another Member State,<br />
based on a tax avoidance assumption. Furthermore, under the<br />
provisions of the Fiscal Code, any Romanian legal entity, upon<br />
submitting its yearly report, has also the obligation to file a report<br />
regarding payments and payment obligations to non-residents,<br />
which must describe the purpose of the payment as well as identify<br />
the beneficiary of the payment. In case of Romanian entities that<br />
have the obligation to withhold and pay the due taxes for certain<br />
incomes they paid to non-residents, such Romanian entities have to<br />
file, on a yearly bases, with the fiscal authorities, a separate report<br />
regarding withholding taxes.<br />
Romania<br />
Andrei Dumitrache<br />
Pachiu & Associates<br />
4-10 Muntii Tatra Street, 5th floor<br />
Bucharest 1, RO 011022<br />
Romania<br />
Tel: +4021 312 1008<br />
Fax: +4021 312 1009<br />
Email: andrei.dumitrache@pachiu.com<br />
URL: www.pachiu.com<br />
Andrei graduated from the Law School of “Nicolae Titulescu”<br />
University in Bucharest and is currently attending a LLM in US and<br />
Global Law for International Business Lawyers with the Suffolk<br />
University Law School in Boston, MA. Andrei is a senior member of<br />
the Bucharest Bar Association and a member of the National<br />
Romanian Bars Association. As a partner within Pachiu &<br />
Associates law firm, Andrei heads the <strong>Tax</strong>, Banking and Finance<br />
Department and his area of expertise includes tax, corporate and<br />
real estate law, commercial and capital market’s law. Andrei is also<br />
a regular contributor to several reviews and legal publications, both<br />
in Romania and abroad, covering tax, public-private partnership and<br />
securitisation. Andrei is fluent in English and conversant in French.<br />
v<br />
Vlad Radoi<br />
Pachiu & Associates<br />
4-10 Muntii Tatra Street, 5th floor<br />
Bucharest 1, RO 011022<br />
Romania<br />
Tel: +4021 312 1008<br />
Fax: +4021 312 1009<br />
Email: vlad.radoi@pachiu.com<br />
URL: www.pachiu.com<br />
Vlad is a graduate of the Law School of “Nicolae Titulescu”<br />
University in Bucharest and attended various training courses<br />
focused on Romanian taxation area of expertise. He is a senior<br />
member of the Bucharest Bar Association and a member of the<br />
National Romanian Bars Association. Vlad is a member of the <strong>Tax</strong>,<br />
Banking and Finance Department and he provides legal assistance<br />
on regulatory, corporate and commercial law. Vlad is fluent in<br />
English and conversant in French.<br />
Pachiu & Associates is a Bucharest based business law firm established by Romanian attorneys. The firm currently<br />
consists of 21 lawyers plus additional staff comprising paralegals, authorised translators and supportive staff. The<br />
lawyers of the firm are all graduates of leading universities in Romania or abroad. More than half of the lawyers are<br />
senior members of the Bucharest Bar Association. All lawyers are fluent in Romanian and English, and some are fluent<br />
in German, French or Spanish. The firm provides for a full range of commercial and corporate legal advice from its<br />
main office in Bucharest and its secondary office in Cluj-Napoca (west of Romania). The firm has extensive expertise<br />
in matters related to corporate governance, corporate disputes, securities, mergers and acquisitions, insolvency,<br />
commercial contracts, offshore and tax structures, labour law, real estate, anti-trust law, intellectual property, banking<br />
and project financing, secured transactions, cross-border transactions, public acquisitions, procurement, and litigation.<br />
Apart from its consistent mergers & acquisitions and cross-border transactions practice, the firm has developed a strong<br />
practice in tax, securitisation and real estate, construction, labour and intellectual property. Any type of transaction is<br />
duly considered from a tax point of view. The firm maintains a close relationship with some leading multinational law<br />
firms and other small and medium-sized law firms from abroad, so as to ensure efficient liaison with important foreign<br />
business centres and jurisdictions.<br />
ICLG TO: CORPORATE TAX <strong>2010</strong><br />
© Published and reproduced with kind permission by Global Legal Group Ltd, London<br />
WWW.ICLG.CO.UK 205
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