Latest news from Romania

UPDATE: EU commission takes action against split payment regime in Romania

Following the letter of formal notice sent by the European Commission (EC) to Romania during November 2018, the country has now dropped the requirement for mandatory VAT split payments.  Please click here to view our previous article in regards to this. The split payment procedure introduced in Romania required VAT registered businesses with an overdue… Read More

EU commission take action against split payment regime in Romania

The European Commission (EC) recently sent a letter of formal notice to Romania requesting that they withdraw the new value added tax (VAT) split payment regime introduced in January 2018. Currently, the split payment procedure requires Romanian VAT registered businesses with an overdue VAT debt to open special, secure bank accounts which are specifically used… Read More

Romania cuts accommodation and hotel services VAT rate to 5%

From 1 January 2019, the Romanian government have announced that they will cut the VAT rate applicable to hotel accommodation and restaurant services to 5%. This change mirrors the majority of EU countries who already apply a reduced VAT rate to hotel accommodation.