VAT
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March - first month of VAT increase. Is the economy recovering?
The rise in sales in the trade sector in the Easter period brought VAT collection for March back into positive territory compared with the similar period of 2009, with the increasing standin...
Will Govt discuss layoffs or VAT increase with IMF?
The revised economic growth forecasts, to less than 1% this year, increase the likelihood of the Government having to resort to a VAT hike to boost revenues and comply with the 5.9% of GDP d...
VAT war: Senate insists on VAT being paid when invoice is collected not when it is issued
Romanian Senate approved a law draft whereby the payment of VAT to the state budget will be done when the invoice is collected, not when it is issued only one week after a similar draft had...
7% decline in budget revenues in January
Overall budget revenues started the year with a decline, by 6.8% in January against January 2009, mainly amid a decline in consumption, with the steepest fall being recorded by VAT collectio...
Deloitte expert: I bet the VAT will be raised to 22%
The Romanian Government will most probably opt for raising the VAT from 19% to 22%, even if it would be best to keep tax rates at the current level, say experts from Deloitte Romania, one of...
Finance Ministry returns 255m euros worth of VAT in one month
Big news for companies: fiscal authorities have decided to pay back around 255m euros this month, representing VAT-related accumulated arrears due to be refunded, announced Finance minister...
New government to keep flat tax and VAT as they are
The new PD-L-PSD government will keep the 16% flat tax and the value added tax at 19%, while the tax on reinvested income will be zero, as shown by the governing programme draft.
Buyers of new homes built by individuals must pay VAT
Individuals who sell properties that are less than two years old, and are not used for housing purposes, must register with the Romanian fiscal authorities as VAT payers and collect the tax...
Fiscal authority clings on to VAT revenues
From April 15 until the end of 2008, importers who bring commodities from outside the EU will again pay VAT at the customs office. The move comes three years after the old system was abolish...