The Romanian authorities have updated the forms used to submit VAT returns and the forms of ECSL returns. The VAT return changes reflect the standard VAT rate update introduced last January 2017 .
The new forms are available in the website of the Romanian tax authorities . They are currently only available in Romanian, but please contact us if you would like to receive a translation of these forms.
In addition to the changes on VAT and ECSL forms, the Romanian authorities also updated the VAT registration process.
As from 1 February 2017, businesses are no longer required...Read more
The recent elections results in Romania have raised doubts about the expected VAT rate decrease of 20 to 19 in 1 January 2017. However, our Romanian contact has recently confirm that these changes will go ahead as planned.
In addition to the VAT rate update, Romania also announced plans to automatically cancel VAT registrations that have been inactive for a long period of time. Where a VAT number is automatically deregistered, input VAT deduction will not be allowed where such VAT was incurred during periods when the VAT registration was not active.
Finally, the VIES registration will no longer be required...Read more
The Romanian government plans to reduce the standard VAT rate from 20 to 19 . This is a continuation of the reduction introduced this year, when the VAT rate was reduced from 24 to 19 . It means Romania has gone from 24 to 19 in only 13 months.
These plans may be challenged given the higher than expected government deficit and the upcoming elections in the country. In case there is a change in the government, the VAT rate decrease is likely to be postponed.
VAT rates have been generally increased across Europe since the start of the economic downturn in 2008. Countries used Value Added Tax as one of their sources of revenue...Read more
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