The Romanian senators from the budget finance committee discussed and proposed some amendments related to the VAT split payment system.
On 10 October 2017 the senators decided to return the proposed amendments to the budget finance committee for a week to clarify the effective impact of this measure on the Romanian State Budget (in case the system will be applied only to a limited number of companies and not in a generalized form). The VAT split system should be mandatory starting with 2018 only for state owned companies, as well as for companies, which concluded agreements with the state. For other companies the system would be optional as of 2018 and mandatory only as of 2019, if it proves to be functional.
Bildquelle: Alexandra Bucurescu / pixelio.de
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[…] Referring VAT split payment the Romanian Senate has approved and further on passed on the amended law related to the VAT split payment system to the Deputy Chamber (i.e. the second institution within the Romanian Parliament that has decisional powers in fiscal matters). According to the amended provisions of the law, the system shall be mandatory as of January 1st, 2018 for taxable persons and public institutions VAT registered in Romania which fall within one of the following situations: […]