Related Party Transactions: A Series of Relevant Considerations
Abstract: Lately, the legislation has introduced more requirements regarding related party transactions. Thus, the most recent regulation on this matter is the Order of the President of the National Agency for Fiscal Administration No. 3281/2020, amending the informative declaration regarding the deliveries/services and purchases made on the national territory by persons registered for VAT purposes. Its adoption resulted in an additional tick inserted in the declaration. An innocent tick has generated widespread dissatisfaction among taxpayers, especially professional accountants who, among other things, send tax returns on behalf of their clients. In this paper, we will address some common issues regarding related parties and briefly present their tax treatment, focusing on how professional accountants need to adapt to take account of new provisions or the presentation of the correct solution, despite some common practices which do not necessarily reflect the existing regulations.
Classification JEL: K34 | Pages: 36-43
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