Romania's Planned VAT Measures Spark Debate

The payment of the value added tax upon bill collection is solely applicable for SMEs, according to the European Union directives, which means that a generalized payment of VAT requires European Commission approval, according to Ramona Jurubita, partner within KPMG. The Romanian Senate approved end March a legislative initiative, by which VAT would be paid when a bill is paid, not when it is issued as the current regulation. The Government rejected the proposition, and the Chamber of ...

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