Accounting and Tax Controversies on Joint Ventures

Author:Assistant Prof. Sergiu-Bogdan CONSTANTIN, Ph.D.

JEL:H25, M41

DOI:

Keywords:joint ventures, legal persons, accounting treatment, profit tax, microenterprise income tax, VAT

Abstract:
This article aims to analyze how were applied in practice the accounting and tax regulations on joint ventures between Romanian legal persons, in a given period of time and present the accurate solutions. After analyzing the sample, it was established that most of the joint ventures carried out their activities without complying with accounting regulations, without organising and managing the accounting, without allocating incomes and expenses to associates. The tax treatment depends on how the accounting treatment is done, and because of that the computation of tax obligations was influenced. The contribution of the author consists in identifying tax and accounting errors at joint ventures. Author`s proposal is for the authorities to inform entrepreneurs about the existence of joint ventures and how to apply accounting and tax regulations.\r\n

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