Romania: VAT rate reduction scheduled for 2017 | KPMG | GLOBAL

Romania: VAT rate reduction scheduled for 2017

Romania: VAT rate reduction scheduled for 2017

The standard rate of value added tax (VAT) is scheduled to be reduced to 19% (down from 20%) effective 1 January 2017. There is some uncertainty about the VAT rate reduction because of a recent change in the government of Romania.


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Because the applicable VAT rate must be that rate that is in force at the date of supply, taxpayers need to consider when to adjust the VAT rate for supplies that take place from 1 January. 


Read a December 2016 report [PDF 141 KB] prepared by the KPMG member firm in Romania

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