KPMG organises international tax conference

On Thursday 22 September, KPMG in Romania will be holding an international tax conference, to present some hot topics related to taxation in Romania, outline latest EU tax law developments as well as discuss key issues in international taxation. The event will involve presentations by KPMG taxation specialists from Romania and several other European countries and there will be an opportunity to ask our experts questions in a Q & A session.

As Mark Gibbins, Partner at KPMG in Romania and head of Taxation Services explains: “As companies seek to remain competitive in an economic environment which continues to be tough, it is critical for them to take advantage of opportunities to make tax savings. At the same time, they need to comply with all their tax obligations in every jurisdiction where they operate, as the costs of non-compliance can be high. Unexpected tax demands and related late payment penalties can cause serious cashflow difficulties. The tax authorities are also becoming increasingly vigilant as they seek to maintain budgetary discipline at a time of falling tax revenues.”

As Gibbins continues: “There are a number of important developments in EU tax law which will be explained during this conference. For example, the European Commission has recently prepared a draft Directive to create a common tax base. This has yet to be approved by Member States, but if it takes effect, it will have significant implications for companies which do business in several Member States.” Transfer Pricing is another increasingly important issue, especially for companies which operate in more than one country. Teodora Alecu, Senior Tax Manager and head of Transfer Pricing Services at KPMG in Romania explains: “In recent years, the Romanian tax authorities have taken a tough line in enforcing transfer pricing rules. They frequently conduct transfer pricing audits, particularly on taxpayers which have requested VAT refunds. In my presentation, I will explain how Romania’s transfer pricing rules work and what steps companies need to take to be compliant, both in terms of developing their transfer pricing policies and in terms of the documentation they need to be prepared to show the tax authorities. I will show how sometimes a transfer pricing policy which is compliant from a Romanian perspective can interfere with group management policies and I will also be looking at some tax structures that can be used by investors. ”

As Daniel Pana, Senior Tax Manager at KPMG in Romania adds: “The conference will also give an overview of tax legislation in Romania, which is complicated and changes frequently, often at very short notice. Only in the last few weeks, we have seen major changes to the Fiscal Code and to the Fiscal Procedure Code, affecting VAT, excises, corporate tax and personal tax. So anyone doing business in Romania needs to make sure that they get the right tax advice, and keep in touch with developments on an ongoing basis.”

As Gibbins concludes: “Romania and the Central and Eastern Europe region present many opportunities and there are likewise opportunities for Romanian companies doing business abroad. At this conference, KPMG’s specialists will clarify some of the key international and local taxation issues which need to be considered.”

Source: KPMG

This article is also available in: Romanian

This post is also available in: Romanian

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