19 January 2018 Romania amends VAT split payment mechanism The Romanian Ministry of Finance published an Ordinance on the implementation of the Value Added Tax (VAT) split payment mechanism in August 2017. Accordingly, taxable persons registered for VAT purposes in Romania according to art. 316 of the Fiscal Code (as well as the public institutions registered according to that article) were required to open separate accounts for the collection and payment of VAT. The VAT split payment applies to all taxable supplies of goods/services, for which the place of supply is in Romania (although some exceptions are provided). Document ID: 2018-0135 |
