Romania: Proposal to reduce the standard VAT rate from 19% to 16% as per 1 of January 2020

The proposal to reduce the standard VAT rate from 19% to 16% starting from 1 January 2020 was adopted by the Senate on 21 October 2019 and is currently under the analysis of various committees under the Deputy Chamber. In order to be effective, it is to be adopted by the Deputy Chamber, promulgated by the president and published in the Official Journal. No public information is currently available on the timeline. There is also another proposal to further reduce the VAT rate for food products from 9% to 5%. Again, no public information is available on the timeline for the time being. However, you should be prepared to have the required rate in the ERP system in case the decision is made over Christmas.

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