Romania – new reporting obligation („SAF-T”).

A new reporting obligation will be implemented in Romania as of 2022 (i.e. the Standard Audit File for Tax („SAF-T”)). The obligation will arise for large taxpayers as of January 2022. In this respect, taxpayers should have the ERP ready for the SAF-T reporting in terms of ensuring the existence of the mandatory elements to be reported on the format requested by the tax authority as well as insert the potential missing data.

For further information or in case of any questions please contact Andreea Dereli,

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Ameropa – VAT Advisor 100% in Romania

Founded in 1948, Ameropa is a Swiss, privately owned international agri-business. We produce, originate and market fertilizers and grains. Our headquarters are in Binningen, Switzerland, near the city of Basel. We have regional offices on all five continents and invest globally in assets supporting our business activities.

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Romania – extension of status of limitation

I was used to each end of calendar year bringing also the end of certain tax periods. When I was working with my clients on their risk registers and update them at the end of year there was certainty. One period lapsed. Nonetheless, I understood that due to the COVID-19 pandemic period, the statute of limitation was suspended and thus extended in certain countries.

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Romania – tax measures in response to COVID-19

Press release ANAF – March 16, 2020

In this period, given the difficult economic context caused by the spread of COVID-19, the National Agency for Fiscal Administration (ANAF) prepared a set of measures for the support of the business environment, the most important being the following:

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Romania – abolishment of VAT split payment mechanism as of 1 February 2020

First introduced in October 2017, the VAT split payment mechanism was supposed to tackle VAT fraud and increase the Romanian state revenues. Debated by many taxpayers that it will not achieve the desired outcomes, the VAT split payment mechanism received also the criticism of the European Commission in November 2018.

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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. Read More »

Romania – It’s very difficult to get registered for VAT purposes

Romania has a very high fraud in the VAT field and this is why the authorities had put in place a VAT registration process for resident entities, which is far more demanding compared to similar processes in other EU countries. Read More »

Romania – Update on split payment introduction as per 1st of January 2018

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). Read More »

Romania – VAT split payment postponed till 2019

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). Read More »

Romania – Update on VAT split payment

Referring to the information on VAT split payment in Romania I would like to update you as follow:

This week the Romanian senators from the Budget Finance Committee discussed and proposed some amendments related to the VAT split system. Read More »