vat

Romania’s Planned VAT Measures Spark Debate

13:51, 14 Apr. 2010
The payment of the value added tax upon bill collection is solely applicable for SMEs, according to the European Union directives, which means that a generalized payment of VAT requires European Commission approval, according to Ramona Jurubita, partner within KPMG.

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

19:55, 05 Mart. 2010
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 Fin Ministry To Reimburse RON794.5M VAT In March

19:53, 05 Mart. 2010
Romanian Finance Ministry plans to reimburse a total of 794.5 million lei (EUR1=RON4.0923) as value added tax, or VAT, in March.

Romanian Democrat Liberal Senators Propose Draft Law To Amend Fiscal Code

15:07, 28 Feb. 2010
Several Romanian democrat liberals proposed a draft law to amend the Fiscal Code so that companies that signed service contracts with the state should pay the value added tax only after the state pays back the money owed for the respective services, said democrat liberal senator Orest Onofrei.

Romanian VAT Rate Could Increase To 20%-21% In 2010 – PwC

15:35, 09 Feb. 2010
Romanian authorities could increase the value added tax rate to 20% or even 21% in 2010 from 19% currently, an official of tax and advisory firm PricewaterhouseCoopers (PwC) said Tuesday.

Romanian Parl Commissions Vote To Eliminate Min Tax, Cut Building Construction VAT To 5%

15:20, 10 Ian. 2010
The Romanian Parliament commissions for budget and finance adopted Sunday morning a series of amendments to the draft state budget, including ones that eliminated the minimum tax, applied a lower VAT to building construction and a 3% tax on micro-enterprise revenue.

Romania To Keep Flat Tax, VAT Unchanged In 2010 – Caretaker PM

18:05, 13 Nov. 2009
Romania will keep in 2010 its flat rate tax and value added tax unchanged at their current levels of 16% and 19%, respectively, caretaker Premier Emil Boc said Friday.

Romanian President Opposes Tax Hikes, Including VAT

15:42, 28 Oct. 2009
Romanian President Traian Basescu on Wednesday said he opposes any tax hikes in times of crisis, as the measure would only increase tax evasion, dismissing recent media reports about him favoring a higher level of the value added tax to boost revenues to the state budget.

Romanian VAT To Remain Unchanged – Tourism Min

17:33, 10 Oct. 2009
Romania’s Tourism Minister Elena Udrea said Saturday during a visit in Romanian seaside resort Neptun, that a VAT increase is out of the question, adding the budget already set by the Government does not include any VAT change.

Fin Min Admits Romania May Increase VAT Rate In ‘10

13:57, 06 Oct. 2009
Romania may increase the value added tax rate as of next year, from the current 19%, to ensure a budget deficit of 5.9% of the gross domestic product, as agreed with the International Monetary Fund, Finance Minister Gheorghe Pogea said Tuesday.

Romanian Tourism Food Segment VAT Could Drop To 9%

16:28, 27 Aug. 2009
The value added tax (VAT) on the food segment in Romanian tourism could decrease from the current 19% level to 9%, following a provision included in the tourism law, said tourism minister Elena Udrea Thursday.

IMF Official: VAT Increase Up To Romanian Govt

16:32, 12 Aug. 2009
A possible increase of the value added tax in Romania may only be decided by the government, but tax hikes should be unnecessary if the economy recovers sooner than expected, a top official with the International Monetary Fund said Wednesday.

Romanian Social Democrats Frown On Vat Increase, Want Min Tax Scrapped In Sept

17:13, 02 Aug. 2009
Romania’s social democrat minister for SMEs, Constantin Nita, told a news conference Sunday that his Social Democratic Party doesn’t support a VAT increase and insists the government cancels the minimum tax as of September 1.

Romanian Fin Ministry To Implement VAT Compensation Sys In July

12:53, 13 Iul. 2009
Romania's Finance Ministry will implement in July the value-added tax compensation system, which will include a sum of 980 million lei (EUR1=RON4.2138), one of the coalition leaders said Monday after the ruling coalition’s weekly meeting.

Romanian Cos’ VAT To Be Reimbursed 3 Times/Month, 80% Payments Directed To Old Debts

15:27, 08 Iul. 2009
The sums owed by the Romanian state to companies as value-added tax reimbursements will be paid three times a month, on 4th, 24th and 29th of the month, while 80% of the payments will be made to companies subject to the highest delays, Finance Minister Gheorghe Pogea said Wednesday.

Romanian Govt Not Currently Planning To Hike Flat Tax, VAT -Fin Min

12:09, 01 Iul. 2009
The Romanian Government does not currently plan to hike the flat tax or the value added tax VAT, minister of Finance Gheorghe Pogea said Tuesday evening, saying he has not talked to fiscal advisors on this issue.

Romanians Buying Dwellings In „First Home” Program To Pay Reduced VAT, Of 5%

16:35, 28 Mai 2009
Romanians who will buy a dwelling through the “First Home” loan guarantee program will pay a reduced value added tax, of 5%, and the program will be operational as of July, the government said Thursday.

Romanian Cos Buying EU Goods To Pay VAT Monthly As Of May – Tax Watchdog

16:17, 18 Mai 2009
Companies buying products from the European Union member states will pay monthly, as of May, the VAT due to these operations, and not quarterly as before, within a measure aiming to lower tax frauds within the European Community, Romania’s tax authority ANAF stated Monday.

Romanian Cos To Deduct VAT On Cars Used For Passengers, Goods Transp – Off

21:00, 27 Apr. 2009
The value added tax (VAT) on cars purchased for both passengers and goods transportation is deductible for vehicles specifically designed for both activities, Finance Ministry secretary of state Gratiela Iordache said Monday.

Romanian Fin Min: Govt Negotiated With IMF To Keep Flat Tax, VAT Unchanged

15:22, 14 Apr. 2009
The measures negotiated by the Romanian Government with the International Monetary Fund allowed the keeping of the main taxes at their current level, Finance Minister Gheorghe Pogea said Tuesday.

Romanian Govt To Ask EU OK For VAT Deduction Ban

14:29, 05 Apr. 2009
The Romanian Government sent to the European Commission a request for derogation from EU norms and consulting the European VAT Committee, to remove the right to VAT deduction on the purchase of vehicles by companies, and to limit to 30% the VAT deduction for vehicle maintenance.

Romanian Carmakers Require Payment Delay For 50% Of Their Due VAT

15:01, 12 Mart. 2009
Allowing car part makers in difficulty to pay half of their due VAT later is a measure that would help the industry, but a decision will be made after an exact assessment of budget revenues, Romanian Prime Minister Emil Boc said Thursday.

Romanian Carmakers Require Payment Delay For 50% Of Their Due VAT

12:23, 12 Mart. 2009
The Association of Romanian Carmakers (ACAROM) asked the government to grant carmakers a delay for the payment of 50% of the value added tax not only for this year, but also for the next.

Lower VAT For Food Prod Scrapped From Romania’s Final Governing Agenda

16:15, 21 Dec. 2008
The Romanian democrat liberals and social democrats have put away from the final version of the governing agenda the proposal to lower the 19% value added tax, or VAT, to 5% for basic food products and to increase it to 25% for luxury items.

Romanian PM: Govt Won’t Increase Flat Tax, VAT

20:50, 17 Nov. 2008
The Romanian government is not planning to increase the flat tax or the value added tax to ensure the necessary funds for supporting the economy, but it will focus on improving the budget revenues collection from taxpayers, Prime Minister Calin Popescu Tariceanu said Monday.

Romanian Politician Proposes Lower VAT On Condoms

16:36, 22 Oct. 2008
Victor Negrescu, running for a seat in the Romanian Parliament along the social democrat and conservative alliance, proposed a cut in value added tax on condoms, citing people’s ever more active lives and the medical aspects entailed.

Romanians To pay VAT Before Registering New Means Of Transportation

19:26, 03 Oct. 2008
The discount and VAT payment for purchases of transportation means within the community will be performed before the vehicle’s registration in Romania, to prevent the possibility, especially for individuals, of avoiding the tax.

Romanian PM Says Lower VAT On Food Is Populist, Irresponsible

18:32, 09 Iul. 2008
Lowering the value added tax on food products would be a populist and irresponsible measure, which would only lower state budget revenue and would have no effect on prices paid by consumers, Romanian Prime Minister Calin Tariceanu said Wednesday.

Romanian Official In Food Industry Urges VAT Cut For Food Products

18:40, 06 Iul. 2008
Sorin Minea, head of the employers’ federation in the food industry Romalimenta, urged the government to adopt the measure regarding a cut in the value added tax food products, stressing this is the only way to keep food prices unchanged.

Romania’s Fin Min To Take Corrective Actions If Lawmakers Adopt Lower VAT For Food

18:31, 06 Feb. 2008
Romania’s Ministry of Economy and Finance is to present in parliament a series of corrective measures if deputies adopt a decision cutting by 5% the value added tax for basic food, finance minister Varujan Vosganian said Wednesday.

Romania’s Fin Min To Appeal Senate Decision On VAT Cut For Basic Food-PM

16:42, 06 Feb. 2008
Romania’s Ministry of Economy and Finance is to appeal at the Constitutional Court an act adopted by the Senate regarding a 5% cut in the VAT for basic food, as the decision, if adopted, would trigger lower revenues to the budget and would leave food prices unchanged, Premier Calin Popescu Tariceanu said.

Romania Senate OKs 5% VAT Cut For Basic Food

14:17, 06 Feb. 2008
Romania’s senate on Wednesday approved a 5% cut of the value added tax for basic food – bread, meat, milk, vegetal oil and sugar.