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Romanian Tax Authority To Comply With 45-Day VAT Reimbursement Deadline

Romanian Finance Minister Sebastian Vladescu announced the bankers and business representatives that the country’s tax authority ANAF will stick to the 45-day reimbursement period for the value added tax, banking association’s head Radu Ghetea said Friday.
Romanian Tax Authority To Comply With 45-Day VAT Reimbursement Deadline
05 mart. 2010, 19:55, English

The minister also said will introduce the reverse taxation in the agriculture sector during a meeting with bank representatives and business organizations.

Early January, Romalimenta and Rompan federations proposed the Agriculture Ministry to introduce reverse taxation in the food industry, and further talks were planned with the Finance Ministry’s officials.

By reverse taxation, the VAT will be cashed in stores and not during products’ manufacturing cycle.

Vladescu said end-February the Finance Ministry reimbursed 800 million lei (EUR1=RON4.0923) VAT in January, from RON500 million during the same month a year before.