The Central Government has issued draft rules for accounts and records, appeals and revision, and advance ruling. This is in addition to rules issued earlier for comments from the stakeholder. With this, the Government has issued most of the rules for the Goods and Services Tax regime.
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 »