Romania - VAT Rate Cut Postponed?
Further to the report we brought you back in February, it is now being reported that the Romanian government is considering postponing the VAT rate cut from 19% to 18%, which, according to the governing program, was supposed to be implemented on 1 January 2019.
The measure may be postponed to 1 January 2020. A final decision will be made towards the end of this year, as the executive wants to make sure that the budget deficit will not go over the target of 3% of GDP.
The standard VAT rate went down from 24% to 20% in January 2016 and then from 20% to 19% in January 2017. We will of course keep you updated on developments.
Should you require any VAT assistance in Romania, or require any international VAT assistance, please contact us.