Abstract
This chapter investigates the impact of taxation on the online business environment in Romania. In the last 30 to 35 years, the world economy has been marked by a rapid development of the services sector, especially in economically-developed countries, with the degree of internationalization being a major feature of no doubt. The contribution of tax consultancy to the development of the economy has been remarkable in most areas of activity. The results asserted the research hypothesis: Romanian firms' strategies were influenced by the phenomenon of corruption reported, in particular, to tax evasion. Governments around the world are trying to respond to growing budgetary pressures by trying to introduce measures to combat tax evasion. Among them is Romania, which has lately changed its legislation on identifying undeclared revenues to tax. Continuous improvement of the strategy to identify and develop new processes leads to increased performance, efficiency of skills, and harmonization of results.
TopBackground
Given the recent history of scandals involving accounting conduct, the credibility of the public accounting profession has dropped significantly, losing one of the core responsibilities of the professional accountant (Doukakis, 2014). According to specialty studies, the share of services in world trade has increased significantly over the last period, with “invisible” exchanges currently accounting for 30% of total world goods and services flows (Byard, Li & Yu, 2011; He, Pan & Tian, 2017). An important place for this is tax consultancy.
Key Terms in this Chapter
Financial Management: A tool in the decision-making relating to the collection and analysis of information in order to increase the performance level of the economic entity.
Financial Accounting Standards Board (FASB): Set up and develop generally accepted accounting principles.
Integrity: The prohibition amendment - by deleting or adding - or the unauthorized destruction of information; integrity refers to confidence in the data and resources of a system by which to manage information.
Economic Management: The achievement of the budget objectives with minimum costs so that when the activity is completed the revenue exceeds the costs, namely there is a profit that ensures a level of profitability as high as possible both at general level and by product, department or service performed.
Cost: The money form of all material and labor expenses made by the company to produce and market material goods, execution works and service works.