VAT changes in Romania

10 September 2015

The International Monetary Fund and the EU, which oversaw Romania’s bailout during the financial crisis, have opposed its plan to cut its VAT rate to 19%.  In response to this, the Romanian Parliament has now confirmed that it will reduce its standard VAT rate from 24% to 20% on 1 January 2016, and then from 20% to 19% in January 2017.

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