23 December 2015
As of 1 January 2016 the standard VAT rate of 24% will be reduced to 20%. Also at the same time, the reduced VAT rate of 9% will be reduced to 5% for the supply of books, newspapers and some magazines, as well as for the supply of some cultural admission services.
Romania will also introduce a reverse charge mechanism on the supply of mobile phones, laptops, PC tablets, game consoles, supplies of buildings and land. This is in an effort to prevent VAT fraud in the sector and will take effect from 1 January 2016.
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