How is the IPSI amount calculated?
Posted: Mon Jan 20, 2025 5:23 am
Taxable base: How the amount on which tax is applied is determined
The taxable base for IPSI is determined based on the value of the transaction subject to this tax. In the case of production and provision of services, the taxable base is the sale price of the goods or the value of the service provided.
For the import of goods, the tax base is calculated on the customs value of the imported products, adding the tariffs and other taxes that may be applied. It is essential that businessmen and professionals calculate the tax base correctly so that the IPSI amount is determined appropriately and complies with current tax regulations.
How to invoice with IPSI?
Invoicing with IPSI requires the inclusion of the tax amount in the invoice issued by entrepreneurs or professionals who carry out operations subject to this tax.
It is essential that the invoice clearly indicates that the transaction list of romania phone number is subject to IPSI, specifying the tax rate applied and the corresponding amount. In addition, it is recommended that companies use invoicing software adapted to IPSI regulations to avoid errors and ensure compliance with tax obligations.
The IPSI amount is calculated by applying the corresponding tax rate to the taxable base of the transaction. Depending on the type of good or service, as well as the economic activity, the tax rate may vary, which will be analyzed in the following section.
Once the tax rate has been determined, it is multiplied by the tax base to obtain the total amount of IPSI that must be included in the invoice and declared to the tax authorities.
IPSI tax rates
The IPSI has several types of taxation that vary depending on the type of good or service being taxed. These tax rates can be general, reduced or increased, depending on the nature of the product or service. Law 8/1991 of March 25 establishes the IPSI tax rates, which must be applied in each case.
The taxable base for IPSI is determined based on the value of the transaction subject to this tax. In the case of production and provision of services, the taxable base is the sale price of the goods or the value of the service provided.
For the import of goods, the tax base is calculated on the customs value of the imported products, adding the tariffs and other taxes that may be applied. It is essential that businessmen and professionals calculate the tax base correctly so that the IPSI amount is determined appropriately and complies with current tax regulations.
How to invoice with IPSI?
Invoicing with IPSI requires the inclusion of the tax amount in the invoice issued by entrepreneurs or professionals who carry out operations subject to this tax.
It is essential that the invoice clearly indicates that the transaction list of romania phone number is subject to IPSI, specifying the tax rate applied and the corresponding amount. In addition, it is recommended that companies use invoicing software adapted to IPSI regulations to avoid errors and ensure compliance with tax obligations.
The IPSI amount is calculated by applying the corresponding tax rate to the taxable base of the transaction. Depending on the type of good or service, as well as the economic activity, the tax rate may vary, which will be analyzed in the following section.
Once the tax rate has been determined, it is multiplied by the tax base to obtain the total amount of IPSI that must be included in the invoice and declared to the tax authorities.
IPSI tax rates
The IPSI has several types of taxation that vary depending on the type of good or service being taxed. These tax rates can be general, reduced or increased, depending on the nature of the product or service. Law 8/1991 of March 25 establishes the IPSI tax rates, which must be applied in each case.