New reduced rate of VAT on cultural services in Romania

1 July 2015

The plans to introduce a new reduced rate of VAT for cultural services, lower value houses and printed media have been approved by Romania's lower house of Parliament. As we noted last month, the new rate will be set at 5% and will apply to books, newspapers and magazines. It has also now been confirmed that it will apply to entry to museums, monuments, cultural events, cinemas, sporting events and also to the sale of some private dwellings, depending on the size and value of the property.

The Romanian Chamber of Deputies has now voted to reduce the VAT rate in Romania from 24% to 19%. This decrease will be implemented on 1 January 2016.

LATEST NEWS

Bahrain increases VAT rate to 10%

From 1 January 2022, Bahrain has announced that it will increase its VAT rate from 5% to 10%. This VAT rate increase is being introduced to re-stabilise the...

SEE MORE
LATEST NEWS

UPDATE: Bulgaria extends the VAT rate reduction to 9%...

The Bulgarian tax authorities have confirmed that the VAT rate applicable on the following goods and services will remain at 9% until after the COVID-19...

SEE MORE
LATEST NEWS

New German coalition government announces intention to...

The German government has announced that it intends to implement a mandatory B2B e-invoicing regime in the country.     The new voluntary regime will allow...

SEE MORE

Gated Content

The following email providers are not accepted: gmail, hotmail, yahoo. Please use proper company email.