11.09 TIAD Webinar: Tax updates by Forvis Mazars in Romania

• Date: September 11 2024
• Time: 10:00 AM (Romanian Time)
• Language: English with Turkish translation
• Platform: Zoom

On the agenda:

VAT updates

• e-TVA: Romania's new digital VAT system - pre-filled returns, data integration, and compliance challenges. Consequences on the classification of the taxpayer as having high tax risk that could lead to the initiation of a tax inspection
• Practical aspects of the tax audits: insights on potential increase in tax inspections. Considering the predicted increase of tax inspections in the following period, taxpayers should be aware of the most important areas envisaged by the tax inspectors in order to prepare in advance.

Transfer pricing updates/ Pillar 2

• Country-by-Country Reporting (CbCR) in Romania: CbCR obligations for businesses and their impact on Turkish groups. This new reporting means that commercially sensitive information about Turkish groups, such as profit level and corporate income tax paid in each country, must be published and made available to the public. Turkish groups should be prepared to mitigate potential risks of tax data misinterpretation from the public, from a reputational perspective.
• Global minimum taxation: GloBE / Pillar 2 - overview of the new legislation for multinational groups and implications for businesses operating internationally. If certain conditions are met, the Romanian Tax Authorities will be entitled to collect an additional tax in cases where the effective tax rate of a multinational group operating in Romania is below the minimum 15% effective tax rate. Turkish groups doing business in Romania should start to estimate the tax impact of the new Pillar 2 rules.

Our expert speakers, Liviu Gheorghiu, Tax Partner, and Mihaela Hampu, Tax Senior Manager will provide valuable insights and practical guidance on these topics.

 To register for this webinar, please reach out to us.

 We look forward to your participation in this informative session.