Delimitations Regarding the Accounting and Fiscal Management of External Debts for Romanian Travel Operators

Calota Traian-Ovidiu () and Negrutiu Magdalena ()
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Calota Traian-Ovidiu: Titu Maiorescu University, Bucharest, Romania
Negrutiu Magdalena: Titu Maiorescu University, Bucharest, Romania

Journal of Business Economics and Information Technology, 2014, vol. 1, issue 1, 1

Abstract: The specific activity of travel agencies consists in the sale and purchase of travel products. In case of travel operators In case of travel operators, including travel agencies, we find a couple of services provided by foreign suppliers, third persons and/or affiliates of the said entity, as for example: consulting, management, audit, services determined by the franchise regime. Therefore, a couple of invoices are received with explanations as “bonus”, “franchise fee”, “group license fees”, “management fees”, “group consulting”, “logo creation for trademark rebranding” etc. Such transactions and operations require the thinking of the accounting treatment in terms of registration, assessment and acknowledgment (i) of the corresponding business debts, (ii) of determining the costs for the supply of such services, as well as the fiscal treatment. The two treatments can be designed and implemented starting from the contractual provisions, the nature and destination of services, the economic reality and, which is extremely important, the fiscal regulations. All these generate economic, financial, accounting and fiscal risks, which requires a prudent and informed analysis of the provisions included in the service contracts.

Keywords: ravel operators; external contracts; income tax for incomes earned in Romania by nonresidents; VAT corresponding to external services; conventions for avoiding double taxation; transfer prices; accounting; taxation (search for similar items in EconPapers)
Date: 2014
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