ERNST & YOUNG SRL

  |  25.08.2017

Tax alert No. 22

Amendments to the draft ordinance on the implementation of the VAT split payment mechanism

On the website of the Ministry of Public Finance there was published the new draft Ordinance on the implementation of the VAT split payment mechanism in Romania.

 

Among the latest changes, one can mention:

 

-          Postponing the date for the optional implementation of the VAT split payment mechanism from 1 September 2017 to 1 October 2017

 

-          Extending the optional period for the VAT split payment mechanism from 1 month to 3 months

 

-          Postponing the date for the compulsory implementation of the VAT split payment mechanism from 1 October 2017 to 1 January 2018

 

-          Granting fiscal facilities for the taxable persons that choose to apply the optional VAT split payment mechanism during 1 October 2017 – 31 December 2017

 

Extending the period during which the taxable persons registered for VAT purposes in Romania have the obligation to transfer VAT to the VAT account, as well as establishing a period during which Romanian Tax Authorities (ANAF) have the obligation to approve the transfer of money fromthe VAT account to the bank account of the taxable person

 

-       Amendments relating to offenses and sanctions.

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