4686

Authorisation procedure and Trade Register aspects for NACE 4686

Setting up a company with the main activity of NACE 4686 – Wholesale of other intermediate products requires following the standard registration steps at the Trade Register (ONRC), with extra attention to the description of the activity. When submitting the registration application, a sworn statement in accordance with Law 359/2004 must be completed, by which the administrator certifies compliance with the legal operating conditions. No prior approvals from specific regulatory authorities are required, but it is mandatory to check the secondary NACE codes that may entail additional requirements. For the field of intermediate products, it is recommended to include related NACE codes, such as 4690 (non-specialised wholesale trade) or 4614 (commission agents for machinery and equipment). When drafting the constitutive act, the object of activity must be formulated exactly according to the Classification of Activities in the National Economy – updated version. After obtaining the registration certificate, the company is obliged to submit the fiscal registration declaration to the Tax Authority (ANAF) within 30 days of incorporation.

Regulatory framework, specific permits and control institutions

NACE 4686 covers wholesale trade of intermediate products, which does not require specific operating permits, except in situations where the products are subject to special regimes. If the activity involves waste, recyclable materials or animal by-products, environmental and sanitary permits issued by the National Environmental Guard and the National Sanitary Veterinary and Food Safety Authority (ANSVSA) respectively come into play. For chemical or hazardous intermediate products, the REACH Regulation and legislation on dangerous substances apply, and the operator must hold an environmental permit under Law 278/2014. The relevant control institutions are ANAF for taxation, the Financial Guard for tax evasion, and the Territorial Labour Inspectorate for compliance with labour standards. In relations with clients, the provisions of the Civil Code on commercial contracts apply, and invoicing must comply with the obligations under the RO e-Factura system, with electronic invoicing being mandatory for B2B transactions.

Tax management, ANAF audit risk and specific accounting

From a tax perspective, companies engaged in wholesale of intermediate products are subject to corporate income tax or micro-enterprise income tax, depending on whether the conditions of art. 47 of the Fiscal Code are met. The tax base is determined based on accounting data, and deductible expenses include the cost of goods sold, transport costs, commissions and depreciation. Proper recording of inventories in analytical accounting is essential, taking into account the specifics of the goods (differences in quantity, assortment, quality). Invoicing must be issued at the standard VAT rate (19%), except in cases of reverse charge application, for example for waste and recyclable materials under art. 331 of the Fiscal Code. The risk of ANAF audit is increased in the case of intra-Community transactions, cash payments exceeding the legal threshold, or incorrect entries in the sales journal. Specific accounting requires the use of accounts from class 3 (Inventory accounts) and the distinct recording of the trade margin. Monthly reporting obligations include declarations 300 (VAT return), 390 (recapitulative statement) and, where applicable, declaration 100 (income tax). For employees, Declaration 112 (social obligations) and the Single Declaration to ANAF for income assimilated to salaries are submitted. We recommend continuous consultation of the ANAF Tax Guide on wholesale trade and updating commercial contracts to reflect specific clauses – payment terms, penalties, risk transfer – according to the legislation in force.