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News

 

UHY International Business Mag Jun 13

 

 

Why UHY

Promotie carte

To place your order please complete the order form and send it at office@uhy-ro.com.

 

 

2012 UHY International studies

 

 

 

UHY International Business Issue 26

 

 

UHY - International Business

 

UHY Internaional Studies 2011t    

 


Premiere in Romania

OECD Publication – Transfer Pricing Guidelines

Bucharest, October 12th, 2010 - UHY Audit CD, a member of the international network UHY, one of the major audit and tax consultancy networks in the world, is launching, as a premiere in the Romanian language, the publication of the Organisation for Economic Cooperation and Development (OECD) – TRANSFER PRICING GUIDELINES, with 237 translated pages, for the use of Romanian specialists.

Ghid preturi transfer

These Guidelines are a revision of the OECD Report “Transfer Pricing and Multinational Companies” (1979). The Guidelines were approved by the Committee for Fiscal Affairs on June 27th, 1995, and endorsed for publication by the OECD Council on July 13th, 1995. Romania has applied the provisions of the guidelines since 2008, and the contents will be reviewed, updated and completed on a regular basis with additional chapters dealing with new aspects of transfer pricing as a result of the practice in different economic contexts. The economic crisis we are currently going through is an example of an economic context which can generate new approaches for the concerned OECD document in the near future.

This project, which ends today with the official launch of the Guidelines, was the result of the need for an official translation and interpretation of the original OECD text. Thus, in cooperation with the most relevant experts, we created a working tool useful for the Romanian tax specialists”, declares Camelia Dobre – Managing Partner UHY Audit CD.

According to official statistics, over 86% of the company groups in Romania are controlled by natural persons or foreign companies, mainly from Germany, Italy and France, and are active in trade, manufacturing industry and constructions – according to the data published by the National Statistics Institute (NSI).

In 2008, there were 26,467 multinational groups active on the domestic market, of which only 135 were controlled domestically. The number of resident groups amounted to 4,276 entities, about 95% of them having two or three enterprises.

Transfer pricing refers to the trading prices for goods, services and capitals, which can be charged between the subsidiaries of a multinational company and which can be subject to different tax jurisdictions from one country to another.

Transfer pricing is important as any change hereof will impact the profit allocation within a multinational company, but also the evolution of the other taxes in the country of residence. The tax authorities have become much more careful about transfer pricing, as its trading is a major part of the taxation base for companies”, adds Camelia Dobre.

Moreover, according to Law no. 76/2010, tax authorities can adjust the amount of the incomes or expenses between Romanian persons and non-resident affiliates, as well as between Romanian affiliates, in order to reflect the market price of the goods or services supplied in a transaction. The transfer pricing guidelines include the calculation rules of transfer prices, so as to be in accordance with the global fiscal regulations. The application of these rules will help solve the disputes between different countries with regard to the allocation of the taxable base in view of taxation. The pertinent guidelines and comments which accompany the work make this publication into a useful working tool and a common professional reference in conducting commercial activities, as well as in planning transactions and investments.

The Guidelines analyse the methods for assessing whether the commercial and financial relations within a multinational company and between its affiliates from the territory of Romania respect the arm’s length principles, while discussing the practical implementation of these methods.

 The Transfer Pricing Guidelines are addressed to economic operators conducting transnational activities as well as to specialists from the fiscal administrations. It is a useful work both for the tax authorities and for the specialists in the private sector who conduct transactions with affiliates and would like to know all the aspects related to transfer pricing.

For more information, please visit www.uhy.com or www.uhy-ro.com.

Contact:

UHY Audit CD

Simona - Diana NISTOR

e-mail: simona.nistor@uhy-ro.com

Tel. 031/425.47 74

About UHY Audit CD

UHY Audit CD was established in 2002 as an independent audit and fiscal consultancy firm. Camelia Dobre is Managing Partener, with more than 15 years of experience in the financial field. UHY Audit CD is a member of the Financial Auditor’s Chamber in Romania, CECCAR, the Fiscal Consultants’ Chamber and UNPIR. Since 2007, UHY Audit CD has been the exclusive partner of Urbach Hacker Young in Romania.

UHY Audit CD provides audit, tax consultancy, accounting and HR services, as well as trainings in the field, by organising specialised workshops. Most of the customers of UHY Audit CD are fast-growing Romanian companies with foreign capital, from various sectors: constructions, trade, manufacturing industry, international transport, tourism, insurance, advertising, IT.

About UHY International

UHY is an international organisation of independent tax consultancy and audit firms, coordinated by the British company Urbach Hacker Young International Limited. Each UHY member is a separate and independent company. The consultancy services are provided by UHY members and not by Urbach Hacker Young International Limited.

Urbach Hacker Young International Limited or any other UHY member is not responsible for the services provided by other members.

UHY International is present in 76 countries and operates with more than 7600 consultants worldwide. In 2009, UHY International recorded a turnover of 630 million dollars.

 


OECD MODEL TAX CONVENTION

The publication of this work in Romanian is a premiere. Romania, as a EU Member State, benefits from the free movement of goods, services, capitals and persons. Therefore, this book responds to the need to clarify and standardise the tax provisions for economic operators carrying trans-national business activities, from a European taxation perspective.

The purpose of this work is to provide the required know how for a range of situations which arise in the international legal context of double taxation.

This book is useful both for the specialists in the tax administrations and for the private sector. It is a useful working tool for fiscal authorities, due to the guidelines and specialised comments contained herein, as well as for the taxpayers, who will find comprehensive explanations about the avoidance of double taxation, which is necessary for them to carry out commercial activities, plan transactions and business investments. It also includes definitions of the terms used in several articles of the Convention, such as “resident” or “permanent establishment”.

> Read more

 

Interviu in revista Consultin Review

 

Consulting Review Magazine
September 2009

 

Thinking globally,
acting locally

interview with Camelia Dobre,
Managing partner, UHY Audit CD


 

 

Read the interview in PDF format.

UHY unveils fresh new look

 

Internal Directory - October 2012

 

UHY Internaional Studies 2011t    

 

OECD MODEL TAX CONVENTION

The publication of this work in Romanian is a premiere. Romania, as a EU Member State, benefits from the free movement of goods, services, capitals and persons. Therefore, this book responds to the need to clarify and standardise the tax provisions for economic operators carrying trans-national business activities, from a European taxation perspective.

The purpose of this work is to provide the required know how for a range of situations which arise in the international legal context of double taxation.

This book is useful both for the specialists in the tax administrations and for the private sector. It is a useful working tool for fiscal authorities, due to the guidelines and specialised comments contained herein, as well as for the taxpayers, who will find comprehensive explanations about the avoidance of double taxation, which is necessary for them to carry out commercial activities, plan transactions and business investments. It also includes definitions of the terms used in several articles of the Convention, such as “resident” or “permanent establishment”.

> Read more

 

 

UHY Capability Statement 2009

Internal Directory- November 2009

UHY HY Tax update - issue 29

UHY internal contacts directory - October 2009

UHY Exchange Newsletter - issue 29

Internal Directory September 2009

UHY Global Transfer Pricing Guide 2009

UHY International Business - Issue 19

Ultimele noutati de la UHY Exchange (iulie 2009)

Internal Directory - April 2009

Doing Business in Romania

UHY Global Directory 2009

UHY International Business Issue 18

Internal directory - Jan 2009 | UHY International Business Issue 17

Press release - 30 January 2008

Press release - 16 January 2008

UHY AUDIT CD in mass-media: Regrupare de forĊ£e în umbra The Big Four

 • UHY has published the Internal Directory of Member Firms (Word file) updated in October 2007.

 • Urbach Hacker Young (UHY) has released recently two new official bulletins of UHY INTERNATIONAL:

- International Business. Issue 15 (.pdf document)
- 22 June 2007 International Accounting Bulletin (.pdf document), reproduced with kind permission of International Accounting Bulletin (www.worldaccountingintelligence.com)
 
 • Urbach Hacker Young (UHY) has updated in August 2007 the list of its members. See the Internal Directory of Member Firms (Word file) for finding out which are the companies that joined until now the international organization of UHY.

EuroABOUT US

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WHY ARE WE DIFFERENT

As exclusive members of UHY in Romania, we offer complete solutions to your problems, at the highest standards. Read more