Latest news from Romania

UPDATE: Romania to consider the implementation of split payments

On the 14 December 2017, the Romanian government approved a new law that significantly alters which businesses are affected by the new VAT split payment legislation, which is to be introduced on 1 January 2018. Originally this was going to apply to all VAT registered businesses in the country, however the new law states that… Read More

Romania raises VAT registration threshold for resident businesses

From 1 January 2018, the Romanian government will increase the country’s VAT registration threshold from RON 220,000 to RON 300,000 (approx. £42k to £58k). This registration threshold only applies to resident companies, as non-resident companies must immediately VAT register if they are undertaking taxable sales in Romania.

UPDATE: Romania to consider the implementation of split payments

The Romanian Government has now passed legislation on the value added tax (VAT) split-payment mechanism which will be introduced on a voluntary basis from 1 October 2017. This is with a view to making it compulsory for all VAT registered businesses from 1 January 2018. The split payment procedure will require vendors to open a… Read More