Tax Comparison 2023 vs 2024

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Tax Comparison 2023 vs 2024 - IT in Romania

Рет қаралды 491

Күн бұрын

The fiscal changes for the year 2024 have not spared anyone, but one of the most affected areas is the IT field. If you are thinking of setting up an IT business in Romania next year, here is how it impacts you and what solutions are for your activity.
0:00 Intro
1:39 1st change: Eliminating the IT field from the Income Norm for PFAs
5:54 2nd change: Removing the IT field from 1% micro taxation
9:59 3rd change: Elimination of IT facilities
11:53 4th change: Higher health taxes
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#romania #taxes2024 #business #company #companystart #taxes

Пікірлер: 12

@bene88597 Ай бұрын

Hey! I have one question. In case I live in Romania but my income is from abroad (like online sales through Amazon, eBay, own shop, etc.), is this considered a Disregarded Entity LLC, and would I pay just 10% income taxes plus 8% dividends? Or how much would the total taxes be that I would need to pay? Revenue is over 500k a year with one employee (myself) in Romania, income solely from abroad online, not in Romania. Could you explain? I have not moved yet but am checking on possible scenarios Thank you!

@mbvtaxexpert 27 күн бұрын

In your case there are many aspects to consider, namely: - do you have a warehouse in Germany - do you have a VAT number there? - for private customers we will have to register you in the OSS (One Stop Shop) and collect VAT at the rate of the country where the final customers are located. - in Romania you will pay strictly 1% up to the ceiling of 60.000 euro or 3% for incomes between 60k and 500k, after that you will switch to corporate income tax. I propose to discuss these issues in a meeting - I leave you the link to schedule such a meeting: calendly.com/mbv-tax/personal-meeting-madalina-vlad?month=2024-07&date=2024-07-23

@bene88597 27 күн бұрын

@@mbvtaxexpert Hey! Thanks for the Answer! I will explain. I own a store and a warehouse, but I want to move and build a structure, creating an LLC in Germany combined with one in Eastern Europe for tax optimization. I am not in a hurry, but I want to finish it by the end of January. I saw your video and found it interesting, but anything above 15-20% in income taxes isn't viable for me. I need the best tax solution because I will have the LLC in Germany, which should be owned by the LLC in Romania or a similar country. Maybe you know what I mean? I need the German LLC because many wholesalers don't like to work with Eastern European companies (We are working with factoring So payment after 90 Days). The store is not necessary, but the warehouse is, and I am sure there is a solution for everything. Plus, we will not fit into the 500k law because on scale it will go way above in yearly turnover. Thank you, best regards, Ben

@supertyp9148 7 ай бұрын

I have one question on which I couldn’t find an answer yet. In Romania, if the company pays dividends, the tax on the dividend is 8%. If the dividend is payed to a person living in Romania, does this create on the i individual level income tax and social contribution? Or are there no additional tax on dividends after the 8% are paid?

@mbvtaxexpert 7 ай бұрын

Hello, I am glad that I can help you :). Yes, on the individual level income tax, paying dividends to a person who has it's fiscal residency in Romania (in not enough just to live here) - you must pay health insurance but the maximum amount is ceiled at 24 minimum salaries: 10% * 24 * 3.300 ron = 7.920 RON (it does not matter how many dividends you withdraw - it can be 1.000.000 euro)

@supertyp9148 7 ай бұрын

@@mbvtaxexpert thank you very much for your answer. Is this contribution to health insurance per month based on the yearly payed out dividend or per different payment? Contribution to other social securities does not apply? For example retirement contribution?

@supertyp9148 6 ай бұрын

@@mbvtaxexpert hello again. I have seen that you offer an online consulting session on your website. Unfortunately the offered time slots don’t match with my personal available times. Would it be possible to answer my questions over email or offer an alternative time slot around 6 pm?

@meka4996 6 ай бұрын

For 36k Euros/year: 3% tax = 1080, 8% tax on dividend = 2236, how did you get 2236 ??? 36k×0.08 = 2880, OR (36000−1080)×0.08 = 2793.6

@mbvtaxexpert 6 ай бұрын

Hello I took into consideration also the expense with the salaries 12 months * 660 euro = total expense with salaries 7.920 euro. So in this case will be like this: 36k - 7.920 - 1080 tax on income = 27.000 euro. To this, if you apply 8% is even less = 2.160 euro