Question
SC Puffin SRL, a Romanian company is register for VAT in Romania. During the period, Puffin SRL is involved in the following operations: 1. It
SC Puffin SRL, a Romanian company is register for VAT in Romania. During the period, Puffin SRL is involved in the following operations:
1. It sells toys to SC Trutzki LTD (1,000 lei), a company registered for VAT in France. The toys are delivered by SC Puffin SRL and SC Trutzki SRL informs SC Puffin about its VAT number registered in France.
2. It sells some handcrafted dolls to a lady leaving in the USA. The dolls are delivered by SC Puffin SRL to Washington. Price 500 lei before VAT.
3. It buys fabrics from a Bulgarian company. The price before VAT is 20,000 lei. The Romanian VAT code is communicated by SC Puffin SRL to the Bulgarian supplier who transports the goods to Romania.
4. It makes a prepayment of 10,900 lei to an internal supplier for a future purchase of peaches. The supplier submits the invoice in the same day.
5. It receives consultancy services from a Italian company registered for VAT in Italy. The price before VAT agreed is 2,000 lei.
6. It buys a vehicle from DACIA SA. Price 60,000 lei before VAT. The car will have a mixt usage
7. It receives 1,000 lei for renting an apartment in Bucharest in the favor of a non-resident private person. The standard treatment applies.
a) For each of the above transactions analyze the transaction and clearly state the input / output VAT that may arise.
b) What is the tax form supposed to be filed by SC Puffin SRL to the Romanian tax authorities? VAT form (D 301) or the special VAT form (D 301)? Why?
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