SOLO launches a free platform for filling in the Personal Income Tax Return for freelancers

SOLO, Romania’s first 100% digital sole trader (PFA) management service, has launched a free platform to fill in the 2022/2023 Personal Income Tax Return.

The service is aimed at self-employed people who registered income from their independent professions through a PFA in 2022. They also have the possibility to declare earnings from other independent sources, such as leases, shareholder earnings, gains from the stock exchange or cryptocurrencies, etc.

People with earnings from independent sources (freelancers, sole traders) pay taxes (income and social security contributions) by means of the Personal Income Tax Return. However, filling in and submitting the Personal Income Tax Return is a convoluted and rather cumbersome process, resulting in multiple forms being filled in incorrectly each year.

The most common errors are caused by the legal lingo and misunderstanding of the tax regulation. Frequent mistakes are misfiling, miscalculations, or misapplying of tax reliefs.

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When the Personal Income Tax Return contains errors, people risk paying more than they should. Failure to meet the May 25th deadline for submitting the Tax Return results in penalties of 0.08% per day. Late payments are also sanctioned with fines between 500 and 1,000 lei and daily penalties of 0.03%.

Using the SOLO service, filling in the Personal Income Tax Return data is simple, intuitive, and error-free. Users need to answer a few questions about their income in 2022, and the application calculates taxes, generates the Personal Income Tax Return, and sends it to the users’ email address. It can then be uploaded to the ANAF portal, in the VPS (Virtual Private Space) account. SOLO also provides access to video tutorials with clear information on how to file and pay taxes.

“At SOLO, we believe that the Personal Income Tax Return should not be a bureaucratic nightmare for PFAs, so we have taken up the challenge to make it simple and accessible to everyone”, said Alexandru Anghel, CEO of SOLO.

Redirecting 3.5% of income tax to NGOs through SOLO

Using the solution provided by SOLO, PFAs which had earnings under the real system of taxation can redirect 3.5% of their income tax to one of the NGO partners: Hospice Casa Speranței, Teach for Romania, Casa Bună Association or Code for Romania.