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 »
Tag: Romania
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 »
Romania – VAT split payment as per 1 of October respectively 1 of January 2018
What is the VAT split payment system?
The new VAT split payment system requires all VAT payers (including non-residents registered for VAT purposes in Romania) to use a bank account dedicated to all VAT-related incoming and outgoing amounts (for transactions carried out on the Ro territory) in respect of all their VAT-bearing transactions. Read More »
CEE VAT antifraud conference – Budapest
As already announced the CEE VAT antifraud conference took place on November 19, 2015.
Officials from the ministries of finance and economy of five CEE countries (Czech Republic, Hungary, Poland, Romania and Slovakia) have called for a Joint Approach to combat VAT fraud and increase VAT collection in a conference hosted today by PwC in Budapest.Read More »
Romania – The New Fiscal Code – provisions entering into force as of 1 January 2016
I would like to inform you about the new amendments to the Romanian VAT legislation, which will enter into force as of 1 January 2016.
Please be informed that the most important change is the decrease of the standard VAT rate from 24% to 20% starting with 1 January 2016, and from 20% to 19% as of 1 January 2017. In addition to the above, please find below a selection of other VAT provisions entering into force starting with 1 January 2016 which may also be of interest:Read More »
CEE VAT antifraud conference – Budapest
I am delighted to invite you to the “Mind the VAT Gap! CEE VAT antifraud conference”organised by PwC.
The event takes place on November 19, 2015, in Budapest starting at 8:30 am.
The CEE VAT antifraud conferenceaims to bring together the public finance officials of the 5 CEE countries along with European Commission tax specialists, leading tax consultants and business representatives, in order to find the best ways to tackle the issue of VAT tax evasion throughout the CEE region. Read More »
Romania – Decrease of the VAT rate from 24% to 20% as from 1 of January 2016
Romania decided to decrease the standard VAT rate from 24% to 20% with effect from 1 January 2016 and to 19% with effect from 1 January 2017. Also, the 9% reduced VAT rate previously applied will decrease to 5% VAT for the supply of school manuals, books, newspapers and some magazines, as well as for the supply of services consisting in the allowance of access to castles, museums, cinemas. The reduced rate of 5% VAT will also be applied for access to sportive events.
Read More »
Erika’s story
Erika was 14 when in 1942 the Nazis brought her and her family into the Warsaw ghetto. She had long, curly fair hair, a much too serious expression and an endless will to survive. She was small and very delicate, one could have easily taken her for four years younger.
The family had suspected that this day might come. They had agreed that whatever happened, after the end of the war they would meet in the house of the father’s oldest brother. Read More »
Michaela Merz 