The value added tax still has only one step to be reduced from the current standard level of 19% to a quota of 16%. On Dec 17, the PSD deputies from the budget and finance committee have taken over a draft PNL law which provides for the reduction of the standard VAT rate to 16%, from 1 January 2020, and have decided to send it with the adoption report to the plenary of the Chamber of Deputies.
Source Profit.ro
Latest Posts in "Romania"
- Romania to End Grace Period for e-TVA Pre-Populated VAT Returns on 1 July 2025
- Romania Revises VAT Return Form to Reflect Updated Rates
- Romania Amends VAT Return Form to Accommodate VAT Rates Increase
- Romania Launches National Import System to Streamline Customs Procedures Starting August 2025
- New VAT Rules 2025: Key Amendments and Implications for Small Enterprises and Service Supply
