Related Party Transactions: A Series of Relevant Considerations

Related Party Transactions: A Series of Relevant Considerations

Number 11, November 2020  »  Financial accounting and reporting

Associate Professor Mirela Păunescu, PhD
Associate Professor Adriana Florina Popa, PhD
Lecturer Radu Ciobanu, PhD
Bucharest University of Economic Studies

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

Statistics: abstract views 203 | PDF downloads 2816 | PDF views 99
   



This website uses cookies to analyze the traffic and to improve the browsing experience. The cookies of third party companies / services placed on this site (Google Analytics, Facebook, Twitter, Disqus) are included here. By continuing to use this website, you agree to the storage of all cookies on your device.