Romania VAT cut timeline

Romania confirm VAT cut timeline

There has been lots of changes with regards to how much the VAT cut would be for Romania and when the implementation would take place, suggested cuts have switched between 4% and 5% over the last year with debates seen for both cuts. However within the last few weeks the Romanian Government has announced that in 2016 the VAT rate will drop by 4% to 20% and then in 2017 it will fall a further 1% to 19%. The parties agreed on this after concerns were raised over the viability of such a big VAT cut, and it was felt best to lower it in stages after the IMF was opposed to a one stage 5% cut.

See all previous eBiz Answers posts:

Romanias potential new reduced VAT rate and the success of the foos VAT rate drops.

Romanias confirms 5% VAT rate cut

Romania to cut VAT on food to 9%

Laura Stockley
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Laura Stockley

Consultant at eBiz Answers Ltd
Laura graduated from University with a degree in Business Studies, and has been working as an Oracle eBTax consultant for several years now, with both R12 eBTax and Fusion (Oracle Cloud) Tax. Focussing primarily on the tax module and its components, Laura also works on the other financial modules and understands how they integrate with the tax engine. Laura has worked on projects with multiple clients covering all aspects of the tax module including AP, AR and GL, working on everything from design, configuration, testing to support. An excellent communicator, Laura enjoys interacting with end users and relishes the challenge of resolving their issues; making tax an enjoyable experience, always.
Laura Stockley
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