Offshore
What you need to know to ease your way into the Romanian Black Sea?
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- Have you checked whether your activities would trigger a permanent establishment for corporate income tax purposes or a VAT fixed establishment?
- What is the most common type of contracting structure for operating in the Romanian Black Sea?
- Did you know that withholding taxes may differ depending on the nature of cross-border payments and the beneficiary’s tax residency?
- Are you familiar with the tax exposures which may be triggered by intercompany transactions if transfer pricing rules are not observed?
- Have you wondered what tax implications may arise from the methods of financing your business?
- Have you checked the potential impact on your business activities of the new anti-abuse provisions introduced by the Multilateral Instrument?
- Are you aware of the potential VAT costs / implications which may arise under your business model?
- How familiar are you with the customs implications and procedures for goods (e.g. vessels, equipment) imported into Romania or used in Romania’s exclusive economic zone?
- Have you considered any excise duties exemptions or costs for the fuel used by vessels navigating in the exclusive economic zone?
- Are you acquainted with the immigration procedures, personal income tax implications and social contribution obligations for your international employees working in Romania?
These are just some of the factors you should know about when operating in the Romanian Black Sea. At PwC, we have a strong team of tax advisors with many years of experience in matters affecting players in the energy sector, both in Romania and abroad, and we are here to help you.
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