Romania VAT split-payment mechanism proposed
On 4 August 2017, the Ministry of Finance published a draft Ordinance providing for a VAT split-payment mechanism. The split payment implies the use of a bank account dedicated to VAT receipts and payments. According to the draft ordinance, the system will be introduced on a voluntary basis on 1 September 2017 and will become compulsory in October 2017. (Full article here)
