My BUSINESS IN ROMANIA™ podcast

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Business Romania Group Expert Consulting 2000

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Indhold leveret af Dr Bogdan Nastase. Alt podcastindhold inklusive episoder, grafik og podcastbeskrivelser uploades og leveres direkte af Dr Bogdan Nastase eller deres podcastplatformspartner. Hvis du mener, at nogen bruger dit ophavsretligt beskyttede værk uden din tilladelse, kan du følge processen beskrevet her https://da.player.fm/legal.

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The Agile Brand with Greg Kihlström®: Expert Mode Marketing Technology, AI, & CX

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#742: Making frictionless payments a reality with Peter Galvin, NMI 30:46

for 11 dage siden30:46

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How do we future-proof the digital payment experience so it becomes invisible to customers—yet keep it working harder than ever for brands? Agility requires a deep understanding of how technology can simplify the customer journey without compromising security or trust. Today we’re going to talk about the future of secure digital payments, how in-app and frictionless experiences are redefining customer loyalty, and why platform providers need to take the in-app payment shift seriously. To help me discuss this topic, I’d like to welcome Peter Galvin, Chief Marketing Officer at NMI. About Peter Galvin Peter is Chief Marketing Officer at NMI and is a 20-year veteran of global technology organizations, specializing in promoting innovative enterprise and Cloud-based software companies to leadership positions. He previously served as Chief Marketing Officer at Entrust and Proofpoint, as well as Chief Strategy & Marketing Officer for nCipher (formerly Thales e-Security). Peter has also served in senior marketing leadership roles at leading technology companies including Openwave, Inktomi (acquired by Yahoo) and Oracle. He’s passionate about skiing and travel, and enjoys cooking and spending time with his family. Peter Galvin on LinkedIn: https://www.linkedin.com/in/petergalvin/ Resources NMI: https://www.nmi.com The Agile Brand podcast is brought to you by TEKsystems. Learn more here: https://www.teksystems.com/versionnextnow Register now for Sitecore Symposium, November 3-5 in Orlando Florida. Use code SYM25-2Media10 to receive 10% off. Go here for more: https://symposium.sitecore.com/ Don't Miss MAICON 2025, October 14-16 in Cleveland - the event bringing together the brights minds and leading voices in AI. Use Code AGILE150 for $150 off registration. Go here to register: https://bit.ly/agile150 Connect with Greg on LinkedIn: https://www.linkedin.com/in/gregkihlstrom Don't miss a thing: get the latest episodes, sign up for our newsletter and more: https://www.theagilebrand.show Check out The Agile Brand Guide website with articles, insights, and Martechipedia, the wiki for marketing technology: https://www.agilebrandguide.com The Agile Brand is produced by Missing Link—a Latina-owned strategy-driven, creatively fueled production co-op. From ideation to creation, they craft human connections through intelligent, engaging and informative content. https://www.missinglink.company…

my BUSINESS IN ROMANIA™

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Indhold leveret af Dr Bogdan Nastase. Alt podcastindhold inklusive episoder, grafik og podcastbeskrivelser uploades og leveres direkte af Dr Bogdan Nastase eller deres podcastplatformspartner. Hvis du mener, at nogen bruger dit ophavsretligt beskyttede værk uden din tilladelse, kan du følge processen beskrevet her https://da.player.fm/legal.

How to start business, grow, or exit successfully

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22 episoder

#Business #Romania #Group Expert Consulting 2000

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my BUSINESS IN ROMANIA™

updated for 2 år siden

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Serier hjem•Feed

Indhold leveret af Dr Bogdan Nastase. Alt podcastindhold inklusive episoder, grafik og podcastbeskrivelser uploades og leveres direkte af Dr Bogdan Nastase eller deres podcastplatformspartner. Hvis du mener, at nogen bruger dit ophavsretligt beskyttede værk uden din tilladelse, kan du følge processen beskrevet her https://da.player.fm/legal.

How to start business, grow, or exit successfully

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22 episoder

#Business #Romania #Group Expert Consulting 2000

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Permanent Establishment (PE) in Romania 1:33

for 2 years siden1:33

1:33

Understanding the concept of Permanent Establishment, or Permanent Headquarters, or Permanent Office (= ro . Sediu Permanent ) and its implications for foreign businesses is crucial for tax compliance and operational efficiency in Romania.

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A solution for shareholders who fight over access to company documents 2:39

for 2 years siden2:39

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One of the most debated subjects when shareholders start having arguments is the right of access to company documents. There are times when communication problems between the shareholders of a company turn into disagreements, then escalate into conflict. Reasoning doesn’t help anymore, egos get over-inflated, and the conflict becomes disruptive for the company as a whole. Everything gets amplified, court cases follow, and a business that started with the best intentions ends up at risk. And here is where the Romanian Companies Law 31/1990 steps in to help: close to the end of the law, in its final provisions, article 283(3) states “ La societăţile existente, asociaţii pot modifica actul constitutiv, prevăzând în el documentele la care aceştia urmează să aibă acces [...[ ”. This means that the shareholders have a very good instrument at their disposal, to prevent arguments: from the very beginning of the company, they can agree in the Articles of Association the extent and the mutual limits of access to company data and documents. For instance “ offers in 30 days information regarding bank statements ”, or “ in case one shareholder starts another company with the same object of activity, without the approval of the other shareholder(s), then access to information about clients is limited to [...]”. Call it a safeguard for mutual protection. Establishing the rules early on, when the company is new, helps prevent disagreements in the future. Also for existing companies, updating their Articles of Association taking into consideration article 283(3) of the Companies Law is recommended. Therefore, the best way to prevent shareholders from fighting is rooted in an old Romanian saying: “ Socoteala curata, prietenie adevarata ” Transparency and pre-agreed rules between shareholders help navigating the meanders of temporary disagreements before actually reaching a critical point for failure in inter-personal communication. https://www.piroi.org/post/a-solution-for-shareholders-who-fight-over-access-to-company-documents…

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How to read a Romanian trial balance 21:36

for 5 years siden21:36

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The trial balance - or, for short, the “balance” - represents the mirror of my company’s activity. All the operations that I run reach the accounting document called the trial balance. Sooner or later I will need to understand it in detail so that I can better coordinate my business - therefore I can already start by forming an overall impression on the types of information that the balance may offer. https://www.piroi.org/post/how-to-read-a-romanian-trial-balance…

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📲 Mobile App Review: Mandatory Day Workers Registry | Registrul Zilierilor - Inspectia Muncii 🆕 11:37

for 5 years siden11:37

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With the entry into force of the Order of the Ministry of Labor and Social Protection No. 1140 / 2020, starting with July 25, 2020, the beneficiaries have the obligation to keep records of day laborers in the Electronic Register of Day Workers. Video: https://www.youtube.com/watch?v=Fy-S2GtsDO4 Source: https://www.inspectiamuncii.ro/registrul-electronic-de-evidenta-a-zilierilor…

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🟦🟨 Emergency Status Certificate 2:34

for 6 years siden2:34

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The Ministry of Economy, Energy and Business Environment offers, on request, Emergency Status Certificates to the businesses affected by the COVID-19 pandemic. The request for an Emergency Status Certificate is done on http://prevenire.gov.ro/ and needs to be signed with the electronic signature of the legal representative of the business - or a delegate, holder of an electronic signature. The Emergency Status Certificates are of two types : 🟦 TYPE 1 (BLUE) - for businesses who were temporarily suspended by the public authorities; 🟨 TYPE 2 (YELLOW) - for businesses who suffered losses in March 2020 greater than 25% of the cash received on average in January-February 2020. The certificates are used in relation to the public authorities for obtaining facilities - or for trade relationships.…

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🦠 COVID-19 emergency tax measures ⚠️ 7:36

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Welcome back, here’s a summary of the measures adopted by the Romanian Government through Emergency Orders during the economic crisis caused by the coronavirus disease COVID-19. The latest is about technical unemployment, an important facility for companies during the suspension of the labour contracts. There are two categories: companies whose activity was temporarily suspended by the Government - and companies who suffered losses greater than 25% due to the crisis. We also speak about deferred tax deadlines and other tax facilities - and how to benefit from them. Transcript available on https://www.piroi.eu/tax-news/covid-19-crisis-tax-facilities…

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How to get back the VAT code (5) after having lost it 2:09

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Regaining the VAT code takes longer than getting it in the first place, because the tax inspectors are more alert to potential irregularities, even if the initial loss of the VAT code has just been the result of a missed deadline. Therefore, the best thing to do is to keep good hold of the VAT code once obtained: I must not lose it 😊 If, however, I manage to lose it, getting it back is not impossible: it just involves some additional steps and documents https://www.piroi.eu/my-business-in-romania/start/tax-details/getting-the-vat-code/regaining-the-vat-code-after-losing-it…

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How to get the VAT code (4) for e-commerce 2:20

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This type of VAT code is for companies from outside Romania - which sell in Romania, via e-commerce/distance sales, above the threshold of EUR 25_000 (RON 118_000) https://www.piroi.eu/my-business-in-romania/start/tax-details/getting-the-vat-code/the-vat-code-for-e-commerce-distance-sales

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How to get (3) the special VAT code for EU transactions 1:34

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my Business in Romania is not registered as a VAT-payer, however I need to do a one-off transaction with a company from the EU. Normally I would need to register my Business in Romania as VAT payer - but here's an alternative: the special VAT code for intra-EU transactions. After getting this special VAT code, I will pay VAT 19% in Romania on the intra-EU transaction, however I will not be registered as a full VAT payer in relation to my transactions with other companies from Romania https://www.piroi.eu/my-business-in-romania/start/tax-details/getting-the-vat-code/the-special-vat-code…

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How to get the VAT code (2) above the 300_000 lei threshold 3:28

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⚠️ I have to register my Business in Romania for a VAT number in 10 days after it passes the revenue threshold of RON 300_000. Obtaining the VAT code for my Business in Romania is done in 2 stages. The first is optional if I already have a Romanian Tax ID as an individual: 1. As a foreigner, I must register myself with the Romanian Tax Agency as an individual person; 2. I apply for the VAT code for my Business in Romania.…

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How to get the VAT code (1) below the 300_000 lei threshold 1:18

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Getting a VAT code at the start of the company - or anytime below the revenue threshold of 300 000 lei - is called in Romanian “înregistrarea în scopuri de TVA prin opțiune” (=en. Registering for VAT as an option) More details: https://www.piroi.eu/my-business-in-romania/start/tax-details/getting-the-vat-code/below-the-revenue-threshold-of-ron-300000…

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🆕 Beneficial Owner Form | deadline extended 3 months after the end of the Alert Status 1:36

for 6 years siden1:36

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All Romanian companies must file the Beneficial Owner Form to the Trade Registry. The penalty for non-compliance is from RON 5 000 to RON 10 000. The Government Emergency Ordinance 191 of 30.10.2020 has just extended the deadline to 3 months after the end of the Alert Status. https://www.piroi.eu/my-business-in-romania/start/reporting-details/beneficial-owner-form…

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My first tax inspection: High Net Worth Individual (HNWI) in Romania 5:53

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All taxpayers which have expenses significantly greater than the income declared in the Single Tax Statement (= ro . Declarația Unică ) will be subject to an analysis from the tax inspectors, to identify if the taxpayer has income which she has not declared. A tax inspection can also be launched. Let's see how it goes…

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⏹ Closing my Business in Romania - the right way 5:22

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Closing my Business in Romania doesn’t need to be a hassle. On the contrary, it can be a very good occasion for a fresh start. As long as it’s properly prepared. Let’s see how it’s done https://www.piroi.eu/my-business-in-romania/close/how-to-close

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🆕 The Fiscal Record Certificate is now available online 1:27

for 6 years siden1:27

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The online platform Virtual Private Space (= ro . Spațiul Privat Virtual) of the Tax Agency ANAF is now offering a new function: the possibility to download for free the Fiscal Record Certificate (= ro. Certificatul de Cazier Fiscal) https://pfinternet.anaf.ro

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Romanian Business Landscape: Key Numbers 2:53

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The National Bank of Romania has just published its annual Foreign Direct Investment Report , where I can see the main countries which invest in Romania and the key sectors they invest in. The numbers are presented in correlation with additional information from the World Bank Ease of Doing Business Index and from the rating agencies. Alright, let’s begin! www.mybusinessinromania.com…

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How to fail my Business in Romania 2:22

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The Group Expert Consulting team has performed a statistical analysis on the most frequent problems the companies have when they forget about the Tax Agency and the Trade Registry . Apparently simple things, such as an expired rent contract or the expiry of the administrator’s mandate in the founding act at the Trade Registry , may have bad consequences on my Business in Romania. Because the Trade Registry and the Tax Agency are connected, I may lose my VAT code, I may see my bank account closed, or even my firm suspended. I will not be able to do business inside the EU, I will lose time and energy. In addition, when the VAT code is cancelled for a firm, cascade problems can show up for all the firms of the same administrator(s)/shareholder(s), and getting a new VAT code may become very difficult, borderline impossible. More info on https://www.piroi.eu/fail-my-business-in-romania…

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Real estate tax 15 times higher? 2:24

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There are a couple of ways in which I can optimise tax when I, as a High Net Worth Individual, or my business, own real estate in Romania. Revaluing is one of them. Let’s see how it’s done Details on https://www.piroi.eu/grow-my-business-in-romania/optimise-taxes/real-estate/methods

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🤔 Deductible expense or not? 5 important rules, with examples 5:29

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An expense is tax deductible only if it is in relation with the business activity, is properly documented - and is recorded within the deadline. The full set of documents which I need to present my accountant include, from case to case, bank statements, invoices, service reception notes (=ro. proces-verbal), as well as cash receipts, fuel receipts and additional travel documents. Let’s look at it in detail, with examples. More details on https://www.piroi.eu/tax-news/deductibles…

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Tax exemptions and tax inspections 4:06

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Plenty of interesting news this episode, from tax exemptions to tax inspections: new legislation on sponsorship, new tax facilities if my Romanian company has a debt to the state budget, as well as info about when the state will block my business bank accounts if I don’t pay the debt. More details on www.piroi.eu/tax-news…

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Tax News Romania: Residence & Calendar 4:27

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The highlight of today’s tax news report is the Tax Residency Guide from the Romanian Tax Agency. It is useful for non-Romanian tax residents who arrive in Romania - and for Romanian tax residents who leave Romania. We also speak about a new function on our platform www.piroi.eu which is tailored to an international audience: the Romanian tax calendar. Let’s begin…

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Social insurance tax on dividends | deadline 31 July 1:47

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With only two weeks left to submit the Consolidated Tax Statement (= ro . "Declaratia Unica"), today we’re speaking about one of its key components: the social insurance tax on dividends. We’re structuring the discussion in who needs to do what

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