A draft emergency ordinance makes significant changes to VAT, bringing it in line with EU directives.
Antonio Dorobanțu
Economy
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<p>The draft Emergency Ordinance promoted by the Government brings significant changes to VAT, including the redefinition of small businesses, new rules for intra-Community acquisitions, the elimination of some exemptions and changes to VAT deductions. It also proposes changes to the VAT rates applicable to various types of transactions, as well as new rules for online services.
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The Parliament has adopted a law that cancels the VAT payment obligations and penalties for companies whose VAT code has been revoked by ANAF.
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