2441

Authorization procedure and Trade Register aspects for CAEN 2441

Setting up a company with the main activity Production of precious metals (CAEN code 2441) requires going through the formalities at the National Trade Register Office (ONRC). The constitutive act must explicitly mention this code, and for production activities, Law 359/2004 requires a declaration on own responsibility regarding the fulfillment of the legal operating conditions. In the case of precious metals, the simple declaration is not sufficient; prior authorization from the National Bank of Romania (BNR) or the National Authority for Consumer Protection (ANPC) is required, depending on the specifics of the operations (melting, refining, casting). The ONRC will verify the existence of these approvals before registration, and their omission leads to rejection of the application. Also, for the registered office, a loan/lease contract and a tax certificate from the Tax Authority (ANAF) must be submitted, and if the space is for production, fire safety authorization (ISU) and environmental approval (APM) are required.

Regulatory framework, specific approvals, and control institutions

The activity of producing precious metals (gold, silver, platinum, palladium) is strictly regulated by Law no. 86/1995 on the regime of precious metals and precious stones, as well as by BNR Norm no. 1/2001. For refining, processing by melting, or manufacturing semi-products, a license from the National Bank of Romania is mandatory. In the absence of this license, the activity is considered illegal and is punished by contravention or criminally, according to art. 14 of the law. ANPC controls the marking and certification of purity (the metal's title), and the Ministry of Finance, through ANAF, verifies the provenance of the metals and compliance with tax obligations. Also, the National Environmental Guard plays an active role, as the chemical processes used can generate hazardous waste, requiring an environmental permit and an integrated operator certificate (if the installation exceeds certain capacities).

Tax management, ANAF audit risk, and specific accounting

For CAEN 2441, the tax regime is complex. The Fiscal Code establishes that precious metals are exempt from VAT upon delivery (art. 294, para. (1), letter a) - operations with investment gold), but only if the purity and certification conditions are met. For silver, platinum, palladium, the exemption is conditional on being a member of the London Bullion Market Association (LBMA). The Single declaration (D112) and the tax vector must be updated accordingly. Accounting must comply with the provisions of OMFP 1802/2014, with inventory valuation at acquisition cost or production cost, and for precious metals, valuation at market price (daily quotes) is recommended. ANAF has a high audit risk in this field, verifying the provenance of metals, purchase documents (contracts, invoices, purity certificates), and the correct application of the VAT exemption. Keeping special registers, such as the input-output register for precious metals, according to BNR norms, is required. Any discrepancy leads to recalculation of taxes and the application of penalties.