Inflation hits 8.4%; rise to nearly 10% forecast Romania is proposing cutting VAT on automobile fuel to 5% from 1 April 2022. This would cover: leaded gasoline, unleaded gasoline, liquefied petroleum gas (LPG) and diesel. VAT cut on domestic electricity from April is also being
Inflation hits 8.2% prompting food VAT cut following domestic electricty reduction Inflation in Romania has now hit a 10-year record at 8.2% in December. It started the year at 3%. The government is therefore discussing cutting VAT on basic foodstuffs from 9% reduced rate to
23% domestic electricity inflation forces extended tax subsidy The Romanian government is considering an extended reduced VAT rate on domestic energy prices for low-volume consumers. This would maintain the reduced Value Added Tax rate at 5% instead of the 19% standard VAT rate between April
e-publications allowed same VAT rate as paper-versions Romania is to reduce the Value Added Tax rate on e-books from 1 January 2022. This will include audio books, blogs, electronic newspaper and journals. The follows a 2018 agreement between member states to allow the harmonisation of
Next round of taxpayers added to Declaration 406 requirements; given 6-month soft landing for first filing The Romanian National Agency for Fiscal Administration (ANAF) has named an additional round of large taxpayers who will join the new Standard Audit File for Tax (SAF-T) D406. These 1,500
6 month grace period – first Romanian SAF-T ‘Declaration 406’ not due until 30 June 2022 The Romanian National Agency for Fiscal Administration (ANAF) has provided fresh guidance on the launch for large taxpayers of its version of the OECD Standard Audit File for Tax
Romania eFactură electronic invoices pilot Nov 2021; phased launch 2022-23 Romania’s Ministry of Public Finance has announced that it intends to introduce an RO national e-invoicing regime as early as 6 November 2021 for a pilot on B2G and B2B. In ordnance 8/2021 issued in the
Romania is to broaden its facility for using the reverse charge and postponed VAT accounting to avoid a cash payment of VAT on importation. The scheme will require an application for the existing deferred payment licence. Applicants must have a Romanian VAT number for at
Romania reverse crisis VAT cuts Romania completes the roll back of the crisis VAT rate cuts. Its standard VAT rate will drop from 20% to 19% on 1 January 2017. This follows the cut from 24% to 20% on 1 January 2015. During the height
