Lidia Duţu-CȃrsteaTax Director
Lidia Duţu-Cȃrstea has over 14 years of experience in tax advisory, as well as experience as in-house Tax Manager for a well-known FMCG manufacturer, leader on the Romanian market. Her focus is on international tax structuring and transfer pricing.
Lidia advises clients on a wide range of tax matters, from local tax particularities to international tax aspects customarily encountered in complex M&A transactions - business restructuring schemes, entries or exits from the Romanian market. In addition, she has solid knowledge on aspects concerning individual taxation, being involved in projects on designing and implementing efficient remuneration schemes for individuals.
She is a key member of the multidisciplinary DLA Piper team that provides assistance to start-ups - Romanian entrepreneurs who are expanding on local and foreign markets. Such projects are sophisticated, require a good understanding of operational complexities and have little to no precedent on the local market.
Over the years, Lidia coordinated tax projects, from proposal until delivery stage, for multinational clients from various industries, such as Technology, Aviation, Manufacturing or Retail.
Lidia is a certified Tax Advisor, member of the Romanian Chamber of Tax Advisors.
- Assisting a large CEE airline during various projects, out if which the most representative ones are involving personal income tax refund processes for employees residents in various countries (i.e., Macedonia, Serbia, Romania) and assisting the client in proper reporting and payment of social security contribution in Serbia).
- Assisting and representing a design and consultancy company in relation to (i) identifying the level of the risk generated by not declaring and paying fiscal obligations (salary income tax and social security contributions) due for the activity carried out in Romania by a non-resident employee, during a period which neither the company nor the employee were registered for tax purposes in Romania, (ii) liaising with the tax authorities in order to agree over a procedure to register for tax purposes the non-resident employee, for him to be able to declare and pay all the outstanding tax liabilities, (iii) monitoring the entire process in order for the fiscal vector of the taxpayer to be created correctly and all the payments to be correctly allocated, (iv) application of certain tax incentive (fiscal amnesty for cancelling accessories).
- Assisted an international electric car manufacturer to identify what are the most suitable taxation regimes applicable for its business structure and activity to be performed as well as representing the client during the registration processes (income tax and VAT) in front of the Romanian authorities.
- Assisted a pharmaceutical producer in its intention to optimise his Romanian structure and implement a merger between the local operational entities. Our assistance was represented by preparing the financial part of the merger project and providing assistance in implementing the operation – including advice on accounting documents to be prepared in relation with the merger. Also, we have assisted in fulfilling the formalities in relation with the Romanian tax authorities related to the merger.
- Assisted a major Warranty & Indemnity insurance underwriter with the assessment of the initial tax advisor involved in the due diligence exercise, which identified an increased risk of additional VAT liabilities in relation with the Romanian portfolio. After conducting a complex assessment of the matters – both from a tax and regulatory perspective – we have reached the conclusion that the opinion of KPMG Romania was not substantiated and assisted the client in drafting the wording of the tax policy.
- Assisting one of the major energy suppliers in Romania with the analysis of tax aspects (corporate income tax, VAT and property tax) related to an acquisition of renewable energy companies in Romania. The matter was complex as, besides the assets owned by the companies to be acquired (Targets), there were additional assets crucial for carrying out the renewable energy business, but owned by the Targets’ shareholders and other natural persons. Thus, our analysis needed to consider the impact of taking over such additional assets and to assess the options available to achieve a full transfer.
- Assisted the local brand of an Irish agribusiness group, in the merger of three local companies. This was an important step in the structuring of the local activity of the Irish group that we have assisted since they entered the Romanian market through two acquisitions. Our assistance covered the design of the merger strategy and establishing the most suitable method to perform such process.
- Advising a large developer of renewable energy projects to set-up their presence in Romania, through the establishment of a Romanian branch, hiring a local team and looking at further expansion. We assist the client in all related matters for the setting-up of the Romanian presence, including in terms of corporate presence, financing, tax, employment and regulatory advise.
- Assisted a world's large maker of pants, noted especially for its blue denim jean, on virtually all complex employment implications related to its entry on the Romanian market. We have advised both during and in the post-acquisition phase on a full spectrum employment specific implications, including employment documentation.
- Academy of Economic Studies Bucharest, Business Administration Master Programme, 2008
- University of Economic Sciences Sibiu, BA in Banks Finances, 2006
- Modificari recente aduse Codului fiscal si Codului de procedura fiscala, Juridice.ro, September 2021
- Romania: Employee Incentives, Legal 500, August 2021
- Doing Business In... 2021 - Trends and Developments, Chambers and Partners, August 2021
- DLA Piper Webinar – 2020 Financial Closing and 2021 Preview – an in-house tax perspective, January 2021
- May 2019 - present: DLA Piper Romania, Tax Director
- September 2018 - April 2019: DLA Piper Romania, Tax Senior Manager
- October 2017 - August 2018: Soft drinks international manufacturer, Tax Manager
- May 2016 - September 2017: DLA Piper Romania, Tax Senior Manager
- March 2013 - April 2016: DLA Piper Romania, Tax Manager
- September 2012 - February 2013: International advisory firm, Tax Manager
- February 2011 - September 2012: International advisory, Senior Tax Consultant
- April 2010 - February 2011: International advisory, Senior Tax Consultant
- September 2007 - April 2010: International advisory, Senior Tax Consultant
Memberships And Affiliations
- Member of the Romanian Chamber of Tax Advisors