Romania Split Payments and Electronic Filings

Andrew Decker
August 25, 2017

The Romanian Ministry of Finance released a draft ordinance introducing a split-payment mechanism for VAT payments on August 4. A revised version of the order was released on August 18th. The order requires that all VAT registered persons must open a dedicated VAT account for the collection and payment of VAT on supplies and purchases in Romania. Taxable persons must pay the VAT on purchased supplies into the supplier’s VAT account. Suppliers are required to supply purchasers with their VAT account information. Businesses will have seven days to transfer VAT payments not paid into the VAT account (such as cash or credit card payments) into the VAT accounts. The revised order has an optional effective date of October 1, 2017 and a mandatory effective date of January 1, 2018.

Earlier this month ordinance number 2326/2017 was officially published, requiring the electronic filing of many tax returns, including the VAT returns and the recapitulative statement. 

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Andrew Decker

Andrew Decker is a Senior Regulatroy Counsel at Sovos Compliance. Within Sovo’s Regulatory Analysis function, Andrew focuses on international VAT and GST issues and domestic sales tax issues. Andrew received a B.A. in Economics from Bates College and J.D. at Northeastern University School of Law. Andrew is a member of the Massachusetts Bar.
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