On 29.08.2025 was published in the Official Gazette the Ordinance 22/2025 that brings important changes in the field of VAT, namely the registration treshold for VAT purposes and the registration procedure: Thus, starting with September 1, 2025, the VAT treshold will be increased to 395,000 lei. The registration procedure is modified in...
It was published the Order no. 1194/2025 issued by the Ministry of Finance, in the Official Gazette no. 730 of August 5, 2025. The Order regulates the accounting reporting obligations as of June 30, 2025, for economic operators. 1. Who is required to report The following entities, who recorded a net turnover...
Starting August 1, 2025, Romania’s standard VAT rate will increase from 19% to 21%, under Law No. 141/2025, published in the Official Gazette on July 25, 2025. Additionally, the 5% and 9% reduced VAT rates will be merged into a unified 11% reduced rate, applicable to specific categories of goods...
Changes of taxes have been announced by the Government on 02.07.2025: 1. VAT – starting with August 1, 2025: - The reduced rate of 5% is eliminated - The VAT rates are increased, as follows: • The reduced VAT rate will be increased to 11% and will apply to the delivery of medicines, food,...
The European Commission has introduced a comprehensive package of proposals aimed at simplifying EU regulations, enhancing competitiveness, and facilitating sustainable investments. Promising over €6 billion in administrative relief, this initiative particularly benefits small and medium-sized enterprises (SMEs) while focusing on larger companies with significant environmental impacts. The European Commission has officially...
On 31.12.2024, GEO 156/2024 was published regarding some fiscal-budgetary measures. The main changes in the tax field, with application from 01.01.2025, are: I. Microenterprises • The annual income ceiling for micro-enterprises is reduced to EUR 250,000 in 2025 and EUR 100,000 starting on 01.01.2026 • The restriction on consulting and management activities is...
E-Invoice: In the B2G commercial relationship, the invoices will contain the corresponding CPV codes provided in the reference nomenclature in the field of public procurement In the B2C commercial relationship, invoices will be sent through the E-Invoice system. If the buyer does not provide the CNP, the issuer will complete the dedicated...
The main aspects related to RO e-VAT are: RO e-VAT is implemented starting with 01.08.2024 for transactions made by VAT payers starting with 01.07.2024. RO e-VAT statement will be sent for each tax period, to persons which are registered for VAT purposes, through SPV, no later than 5th of the month following...
Interest, penalties and all accessories related to the main budgetary obligations owed by legal entity debtors, overdue on August 31, 2024 inclusive, are canceled if the following conditions are cumulatively met: The outstanding obligations on August 31, 2024 will be paid by the date of submission of the application, no...
In response to the pressing need for stringent climate action, the European Union (EU) has elevated its climate targets, paving the way for introducing the Carbon Border Adjustment Mechanism (CBAM). This mechanism is designed to counteract 'carbon leakage,' a phenomenon where companies relocate their production to countries with laxer climate...
