The new VAT rules, digitalization of NAFA and the recent changes brought by GEO 114/2018, the main topics discussed

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The new VAT rules, digitalization of NAFA and the recent changes brought by GEO 114/2018, the main topics discussed at Deloitte Annual Tax & Legal Conference in Cluj-Napoca

15 January 2020

The new regulations on value added tax (VAT), which entered into force on January 1, 2020, the plans regarding the digitalization of the National Agency for Fiscal Administration (NAFA) and the recovery of the business environment after the elimination of the most contested provisions of Emergency Ordinance 114/2018 are some of the main topics which were discussed during Deloitte’s Annual Tax & Legal Conference in Cluj-Napoca, held on Tuesday, January 14, 2020.

"We opened the series of our annual conference in Cluj-Napoca because, for several years, one of the most important business centers in the country has developed here. The interest expressed by the business community in the region for our event honors us, but also determines us to constantly improve ourselves, to keep up with the internal and international tax changes, so as to offer the most complex solutions to the issues encountered in implementing the regulations in force and also to help companies prepare for future challenges,” said Alexandra Smedoiu, Tax Partner, Deloitte Romania.

”Transylvania has great potential for growth, and, in the current ever-changing economic context, on local and European level, we are committed to supporting as much as possible the companies to capitalize on the opportunities and to avoid the potential risks arising from the complexity of the legislation and the compliance procedures,” said Bogdan Barbu, Transfer Pricing Director, Deloitte Romania, Lead Coordinator Tax Department in Cluj-Napoca.

During the conference, the speakers debated the most important fiscal aspects of 2019, on a national and European level, the changes brought to the legislation and their implications on the activity of companies operating on the Romanian market. Also, Deloitte representatives presented to the participants the regulations which entered into force on January 1, 2020, as well as the major projects debated in the EU, which are expected to have an important impact on the Romanian companies, once approved.

The speakers in the plenary session of the Deloitte Tax & Legal Conference in Cluj-Napoca were Alexandra Smedoiu, Tax Partner, Vlad Boeriu, Indirect Tax Partner, Oana Buhaescu, Director, Audit, Bogdan Barbu, Director, Transfer Pricing, Simona Goje, Senior Manager, Tax, Elena Răileanu, Manager, Global Employer Services, and Cristi Secrieru, Partner, Reff & Associates, the law firm representing Deloitte Legal network in Romania.

During the workshop that followed the plenary session, the speakers presented practical aspects related to fiscal inspections, unexpected checks and contributions due to the Environment Fund.

Deloitte Romania opened its regional office in Cluj-Napoca in 2008, which provides audit, tax and legal services.

Deloitte provides worldwide audit, consulting, legal, financial advisory, risk advisory, tax and related services to public and private clients spanning multiple industries. Deloitte serves four out of five Fortune Global 500 companies through a globally connected network of member firms in more than 150 countries and territories, bringing world-class capabilities, insights, and high-quality service to address clients' most complex business challenges. Deloitte's goal is to make an impact that matters through its more than 312,000 professionals.

Deloitte Romania is one of the leading professional services organizations in the country providing, in cooperation with Reff & Associates, services in audit, tax, legal, consulting, financial advisory, risk advisory, business processes as well as technology services and other related services, through more than 1,700 professionals.

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