Tax authorities deploy AI machine learning and RPI to detect VAT fraud Romania’s Minister for Digitalisation has claimed that the use of Artificial Intelligence machine learning and Robotic Process Automation (RPA) has increased the country’s VAT receipts by between 0.9% and 1.0%. The tax office
Government to scrap most 5% reduced rate, moving most supplies to the standard 19% rate from 1 January 2024 The Romanian parliament has published a Bill reclassifying restaurant, catering and cultural (theatre; cinema) services from the reduced rate of 9% to the standard VAT rate
Legislation approved for Jan 2024 near real-time reporting of B2B invoices; full B2B pre-clearance e-invoicing July 2024 The legislation to launch of B2B electronic invoicing for resident and non-resident businesses has now been approved by the Parliament and the President. There is a two-stage launch:
Ministry of Finance recategorises range of supplies VAT rate The ruling Romanian coalition government has presented a range of fiscal reforms to Parliament. This includes raising VAT rates on a range of supplies. Check our live global VAT rate database. The following will be reclassified
Doubts on budget gap discussions with EU puts VAT rise into play Update 19 Sept: draft law includes a number of measures including VAT on sugary products to avoid a standard VAT rate rise. Proposals for sweeping pubic spending cuts are included. The Romanian coalition
Increase for dispatches and arrivals of goods across EU reporting thresholds 2023 Romania has gazetted a rise in Intrastat thresholds from 1 January 2023. The increases will be as follows: Arrivals – raised from RON 0.9 million to RON 1 million per annum Dispatches –
Romanian Standard Audit File for Tax returns in phased launch 2022-25 The Romanian National Agency for Fiscal Administration (ANAF) has launched a phased rollout of its OECD SAF-T based program. SAF-T in Romania is known as Declarației informative (Informative Statement) D406 return, and is in
January 2023 rate rises to sparkling drinks, hotels and catering VAT The VAT amendments to the fiscal code have been agreed for 1 January 2023 Fizzy drinks reclassified from 9% reduced VAT rate to standard 19% rate. Hotel and similar short-term accommodation raised from 5%
Romania eFactură electronic invoices now open to registrations; phased launch 2022-23 Eligible businesses may now register for Romania’s new B2B RO e-invoicing regime. The first phase of mandated e-invoices is for fraud high-risk supplies (see below), and starts 1 July 2022 the Ministry of Finance has
