EU MAP

The enlargement of the European Union in 2007 significantly affected businesses which operate in the existing EU and in Romania across a range of political, social, economic and business issues. To help you get an idea about some of these issues, we have listed below a set of questions our clients in other EU countries have found useful in identifying the business impact of EU enlargement.

Has your company conducted a SWOT analysis relating to EU Accession?

What budget has been set aside to meet the compliance and preparation costs?

Has your company reviewed its exposure to issues such as competition law and packaging law

changes brought about by EU Enlargement?

Has your company reviewed its existing supply chain contracts for liabilities that will arise out of

EU Enlargement?

Is your group structure tax efficient in view of implementation of EU legislation?

Does your company benefit from a preferential tax regime which will be phased out under the EU

Code of Conduct?

Will expatriates who work for your company in your country be employed / seconded / assigned

by another entity?

Have you analysed the resulting new social security procedures?

What issues will arise from sending your employees to work abroad?

Will you be compliant with the new VAT rules required by the intra-community supplies and

acquisitions?

Has the impact of such systems as Intrastat and reverse charge been recognised?

Have you analysed the implications of the EU Customs Code and implementing regulations?

Are you aware that all temporary customs regimes will be discharged or replaced by EU

compatible arrangements?

Are you aware that all the free trade agreements between Romania and third countries will be

terminated and replaced with the EU agreements?

If your company is involved in excise goods, have they been reviewed for excise classification

purposes recently?

Are your excise personnel familiar with the EU's Accompanying Administrative Document (AAD)

procedures and suspensive arrangements?

What documents will be required by you and your customers so that they can be processed for

intra-community supplies?

What is the filing process for these documents?

Is your IT system compliant with the changes that will be needed to meet EU Enlargement?

Does it have the capacity to produce statutory documents (i.e. Intrastat and EC sales listings)

automatically?

Does your Enterprise Resource Planning (ERP) system automatically create VAT return source

data?

What time frame is required to make these changes to your system?