In the case of a micro company the nondeductible expenses does not do any harm from fiscal point of view - you are not even taxed on them - you just made them, and that all. Of course it depends of the nature of those nondeductible expenses - but mostly there is no problem.
@@mbvtaxexpert So then there is no penalty from ANAF if a micro enterprise spends money on something that is not directly related to the business activities?
So then there is no penalty from ANAF if a micro enterprise spends money on something that is not directly related to the business activities? Doesnt matter the amount or frequency?
No, there is no penalty from ANAF. In the worst case scenario, the amounts you spent from the company for personal interest could be re-characterised for tax purposes as dividends (where the tax is 8%) or income assimilated to salaries (this would be the worst case scenario as the tax is somewhere around 45%). In my entire activity though of over 15 years of accounting I have never had a single case, but there is this possibility.
I live in Germany I want to lower my tax on the profit of my Futures and option trading activity remember the generally doesn't consider as capital gains. Is there any possibility I move to Romania rather than Dubai
Hello - yes of course - here in Romania everything is taxed 10% - but you must have Romanian tax residency - meaning that you need to move here for at least 183 days and after that to start the procedure for changing the tax residence.
This kind of activity i would not recommend it to be done as a company - here in Romania we do not have a specific law for it - but you can do it as individual (that has Romanian Tax Residency - meaning that you should live at least 183 days here) and estimated taxes are: Tax on income--> 10,00%, meaning 40.000 euro HEALTH INSURANCE--> 4440 euro TOTAL TAXES TO BE PAID --> 44.440
Thank you for sharing valuable info
Thank you as well!
Thank you! What will happen if micro company made non-deductible expense?
In the case of a micro company the nondeductible expenses does not do any harm from fiscal point of view - you are not even taxed on them - you just made them, and that all. Of course it depends of the nature of those nondeductible expenses - but mostly there is no problem.
@@mbvtaxexpert So then there is no penalty from ANAF if a micro enterprise spends money on something that is not directly related to the business activities?
So then there is no penalty from ANAF if a micro enterprise spends money on something that is not directly related to the business activities?
Doesnt matter the amount or frequency?
No, there is no penalty from ANAF.
In the worst case scenario, the amounts you spent from the company for personal interest could be re-characterised for tax purposes as dividends (where the tax is 8%) or income assimilated to salaries (this would be the worst case scenario as the tax is somewhere around 45%).
In my entire activity though of over 15 years of accounting I have never had a single case, but there is this possibility.
I live in Germany I want to lower my tax on the profit of my Futures and option trading activity remember the generally doesn't consider as capital gains. Is there any possibility I move to Romania rather than Dubai
Hello - yes of course - here in Romania everything is taxed 10% - but you must have Romanian tax residency - meaning that you need to move here for at least 183 days and after that to start the procedure for changing the tax residence.
if i set up company for futures equity trading and prop firm trading how much i pay in taxes? 400k revenue
can i get 3% tax?
This kind of activity i would not recommend it to be done as a company - here in Romania we do not have a specific law for it - but you can do it as individual (that has Romanian Tax Residency - meaning that you should live at least 183 days here) and estimated taxes are:
Tax on income--> 10,00%, meaning 40.000 euro
HEALTH INSURANCE--> 4440 euro
TOTAL TAXES TO BE PAID --> 44.440