Draft legislation published for Jan 2024 near real-time reporting of B2B invoices; full B2B pre-clearance e-invoicing July 2024 Draft legislation has been issued for the launch of B2B electronic invoicing for resident and non-resident businesses. There is a two-stage launch: Jan 2024 – it is
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
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
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
