Accounting and taxation for a new company in Romania

A new company does not need accounting only to file returns.

It needs a system through which its transactions are recorded correctly, its tax obligations are anticipated, and management can understand what is happening financially in the business.

That is why the question should not only be: "Who will keep the books?"

But: "How should the company be organized, from an accounting and tax standpoint, for the activity it is about to carry out?"

A business providing international services, an online store, a company importing products, a real estate developer and a company employing dozens of people do not share the same tax and accounting structure.

The company has to be organized around the business model, not the other way around.

1. The tax regime has to be analyzed before the first revenue

One of the first questions for a new company is how it will be taxed.

In 2026, the micro-enterprise regime has a 1% rate, but applying it depends on meeting the requirements of the Fiscal Code (Codul fiscal). The relevant threshold is EUR 100,000, and the revenue of linked enterprises is also taken into account when checking the limit, under the conditions of the law. For a newly incorporated company, the micro-enterprise regime can be elected from the first year if the legal conditions are met, including the requirement to have an employee within the 90-day period set by law.

If the company does not apply the micro-enterprise regime or exits it, the standard corporate income tax rate is 16%, applied to taxable profit.

But the choice should not be reduced to a comparison of 1% vs. 16%. The two taxes have different bases. In one case, revenue is what matters. In the other, it is the taxable result calculated from revenue and expenses, with the adjustments provided by law. The cost structure and the margin of the business therefore matter.

2. Not every company under EUR 100,000 is automatically a micro-enterprise

The threshold is only one of the conditions. The other legal requirements also have to be analyzed, including the shareholding structure, the existence of an employee and the relationships with other enterprises.

The rules on linked enterprises can mean that the revenue of several entities is counted together when checking the EUR 100,000 threshold.

In addition, where partners or shareholders hold, directly or indirectly, more than 25% in several eligible companies, the law limits the micro-enterprise regime to a single Romanian legal entity, under the conditions of the Fiscal Code.

For an entrepreneur who controls several companies, this check has to be done beforehand, not after the companies have already started invoicing.

3. VAT has to be analyzed based on clients, suppliers and the type of transactions

A new company is not automatically a VAT payer.

At present, the special exemption scheme for small enterprises can be applied, under the conditions of the law, up to an annual turnover of RON 395,000.

But the fact that the company is below the threshold does not mean that staying unregistered for VAT is always the right solution. The law also allows opting into the standard VAT regime before the threshold is reached.

The decision has to be analyzed based on who the clients are, whether they are businesses or consumers, the value of purchases, the initial investments, intra-Community transactions, imports and exports, and the place where services are supplied.

For a B2B business with significant investments, the analysis can differ from that of a company selling directly to consumers.

4. Accounting has to be organized before the documents appear

A common problem at new companies is reversing the natural order. The company starts buying, invoicing and paying, and only afterwards is it decided how the documents will be organized.

It should be the other way around.

Before operations begin, the following has to be settled: who issues the invoices; how expenses are approved; where documents are centralized; who sends documents to accounting; how contracts and advance payments are recorded; how expense claims and the director's expenses are handled; how receivables and payables are tracked.

Good accounting starts with a document flow, not with a tax return.

5. RO e-Factura is part of the company's day-to-day operations

Invoicing for a company in Romania is now closely tied to the digital tax infrastructure.

For transactions that fall under the RO e-Factura system (Romania's national e-invoicing platform), the general submission deadline in 2026 is 5 working days from the issue of the invoice, without exceeding the maximum legal deadline for issuing it. Under the conditions set by law, the regime covers both B2B transactions and invoices issued to consumers (B2C).

For a new company, this means that the invoicing process has to be set up technically from the start. It is not enough for the invoice to be created as a PDF and sent to the client. The document's tax flow also has to be defined.

6. SAF-T has to be part of the accounting infrastructure

Tax digitalization does not stop at e-Factura.

Small taxpayers came within the scope of SAF-T reporting (informative return D406) starting January 1, 2025. For taxpayers newly registered after the reference date, the obligation starts, under the rules applicable to their category, from the actual date of registration.

SAF-T means standardized reporting to the tax administration of an extended volume of information taken from the accounting and tax records.

The practical consequence is significant: the quality of the data entered into the accounts matters more than before. An incorrectly recorded document is no longer just an internal bookkeeping issue. It can end up reflected in the company's electronic reporting as well.

7. An accounting expense and a tax-deductible expense are not always the same thing

The fact that the company pays an amount does not automatically mean it produces the tax effect the entrepreneur expects.

Under the corporate income tax regime, the taxable result starts from the revenue and expenses recorded in the accounts, but it is adjusted for non-taxable income, tax deductions and non-deductible expenses.

That is why the director's expenses, company cars, entertainment, travel, services received from other companies, assets, depreciation, financing and supporting documents all have to be analyzed correctly.

The useful question is not only: "Can I pay for this through the company?" But: "How will this transaction be treated for accounting and tax purposes?"

8. Profit, cash and money available to shareholders are three different things

This is one of the most important distinctions for an entrepreneur who is just starting out.

The fact that there is money in the company's account does not automatically mean it can be transferred to the shareholders. Likewise, a company can report an accounting profit and still have a difficult cash flow.

Management has to distinguish between revenue, profit, available cash, receivables, payables, the company's capital and the amounts that can legally be distributed.

Accounting has to provide this picture. Not just the bank balance.

9. Employees change the company's tax and administrative structure

Once the company hires staff, additional flows appear: payroll, taxes and contributions, reporting, contracts, leave, benefits, expense claims and recurring obligations.

In addition, for a company aiming to apply the micro-enterprise regime, having an employee can directly affect its tax eligibility. For a newly incorporated company, the Fiscal Code allows this condition to be met within 90 days of registration.

The decision on staffing is therefore not purely an HR decision. It can also have a tax effect.

10. International transactions have to be analyzed separately

For a company with partners, clients or suppliers from other countries, local accounting is only part of the picture.

Several matters can become relevant: VAT on cross-border transactions, the place of supply of services, imports and exports, payments to non-residents, double taxation treaties, the tax residence certificate, transactions between affiliated companies, intra-group financing and transfer pricing.

That is why any international component has to be communicated to the accountant and the tax advisor before the transaction is carried out. Not after the payment has already been made.

11. Accounting has to give management information, not just compliance

A company can be fully up to date with its tax returns and still not know which activity is profitable, how much it has to collect, which costs are rising, which obligations are coming up, how much cash it will have in three months, whether it can make an investment or whether it can afford to hire.

That is why the role of accounting should not end at: "The return has been filed."

For management, the trial balance, the receivables report, the supplier report, cash flow, the result, costs and the explanation of the figures also matter.

1. Business model
   ↓
2. Tax regime
   ↓
3. VAT
   ↓
4. Invoicing & documents
   ↓
5. Accounting
   ↓
6. Reporting & compliance
   ↓
7. Management information

12. How does BOSFORA approach accounting and taxation for a new company?

At BOSFORA, we do not start from the question: "How many invoices will you have per month?"

We start from: "How will the business operate?"

We analyze the company's activity, clients, suppliers, staff, international transactions, investments and financial flow.

From this picture, we jointly define the accounting setup, the relevant tax regime, the VAT position, the document flow, invoicing, reporting, the calendar of obligations and the situations that call for additional legal or tax analysis.

The goal is not only for the company to be compliant. It is for the accounting and tax information to support the operation and the decisions of the business.

Frequently asked questions

What tax does a new company in Romania pay in 2026?

It depends on whether the legal conditions are met. In 2026, the micro-enterprise regime has a 1% rate and a EUR 100,000 threshold, but eligibility also involves other conditions. Companies that apply corporate income tax are, as a rule, subject to a 16% rate on taxable profit.

Can a new company be a micro-enterprise from its first year?

Yes, if the conditions set by the Fiscal Code are met. For the employee requirement, a newly incorporated company has, in 2026, a 90-day period from registration.

When does VAT registration become mandatory?

The special exemption scheme currently applies up to the RON 395,000 threshold, under the conditions of the Fiscal Code. However, the company can also opt into the standard VAT regime before reaching the threshold.

How long does the company have to submit an invoice to RO e-Factura?

The general deadline is 5 working days from the date of issue, while staying within the limit set by the legal deadline for issuing the invoice.

Does a new company have to file SAF-T?

The D406 obligation is determined by the taxpayer's category and date of registration. Small taxpayers entered the system on January 1, 2025, and for taxpayers newly registered after the reference date, the obligation starts from the actual date of registration, under the applicable rules.

This material is for informational purposes only and does not replace the legal, fiscal, or administrative analysis of a specific situation.

Last updated: September 23, 2026