We are living in a dynamic period where an increasing number of people choose to become entrepreneurs, either to gain independence or to exploit their business potential.
A simple self-employment activity can grow and transform into a large company or a group of companies with diverse operations, which could potentially be integrated into larger enterprises in the future. Currently, we observe a rise in consolidation cases at the group level, driven by the need to respond to fierce market competition and create a conducive environment for development.
However, establishing a solid business can be challenging and may involve numerous obstacles, from inception to merger or acquisition. Overcoming these obstacles, however, brings forth new development opportunities.
One of the best indicators of financial performance is the financial behavior of a company, and the National Agency for Fiscal Administration (NAFA) monitors the financial situation of firms to identify their risk category and provide necessary support. The vigilance of NAFA inspectors stems from the experience gained through fraudulent tax practices employed by certain companies to pay lower taxes or even avoid tax payments. Tax evasion remains a pervasive problem, and authorities are responsible for taking measures to manage and mitigate it.
Thus, success in business requires a balance between sound economic activity and the principles of ethics and transparency. Embracing education and adopting good practices often help overcome critical situations. To better navigate your business partnerships, we recommend consulting the list of fiscal risk indicators monitored by NAFA, available at the following link: https://static.anaf.ro/static/10/Anaf/transparenta/Anexanr2laproceduraFisaindicriscfiscal.htm
As awareness grows, the business environment becomes more responsible in preparing to face uncertainties of any kind.
In conclusion, navigating in a complex commercial world involves understanding tax risks and constantly adapting to current requirements and regulations. By promoting healthy economic activity and adhering to ethical principles, we can contribute to building a more stable and promising business environment for all.
We are here to efficiently manage tax risks. For more details, please contact us.