Fiscal inspections for small and medium enterprises (SMEs) in Romania will be carried out once every three years, and these firms will also benefit from fiscal facilities in the first year after their registration in the Trade Register, according to an ordinance recently approved by the Romanian Government.

The ordinance also mentions, among others, a limit in the introduction of new administrative and reporting tasks for SMEs, in order to ensure a friendly business environment, and also support for professional training to improve the quality of human resources required for SMEs.

The ordinance recently adopted by the Government transposes into Romania’s legislation the strategic document “Small Business Act” for Europe (SBA) enforced by the European Commission in 2008 and revised in 2011. The SBA is a set of 10 principles which should guide the design and implementation of policies to stimulate SMEs at both EU and national level.

Irina Popescu, irina.popescu@romania-insider.com