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Accounting and Fiscal Approaches Concerning the Motor Vehicles which Are Not Exclusively Used for the Purpose of Economic Activities

Author

Listed:
  • Bogdan Cosmin GOMOI

    ("Aurel Vlaicu" University of Arad)

Abstract

The entities owning motor vehicles have to pay particular attention to the applicable fiscal treatment regarding the value added tax and income tax. If the motor vehicles owned by the entities are not exclusively used for the purpose of economic activities, the entities have to take into account all the related fiscal implications, because if these are not considered, there is a risk that the fiscal authorities will establish additional taxes, including late payment penalties. In this article, we will refer to the accounting and fiscal aspects regarding the motor vehicles that are used both for economic activities and personal purposes.

Suggested Citation

  • Bogdan Cosmin GOMOI, 2020. "Accounting and Fiscal Approaches Concerning the Motor Vehicles which Are Not Exclusively Used for the Purpose of Economic Activities," CECCAR Business Review, Body of Expert and Licensed Accountants of Romania (CECCAR), vol. 1(6), pages 21-29, June.
  • Handle: RePEc:ahd:journl:v:1:y:2020:i:6:p:21-29
    DOI: 10.37945/cbr.2020.06.03
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    More about this item

    Keywords

    motor vehicle; VAT; income tax; limited deduction; leasing; the Fiscal Code;
    All these keywords.

    JEL classification:

    • K34 - Law and Economics - - Other Substantive Areas of Law - - - Tax Law
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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