Latest news from Romania

Romania confirms the introduction of a mandatory SAF-T file from January 2020

The Romanian tax authorities have confirmed that they will introduce a mandatory SAF-T by the end of 2020. The SAF-T file, which is a way for the tax authorities to exchange VAT data with businesses in a more secure, accurate and efficient way, will be mandatory for all VAT registered businesses. These files are already… Read More

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