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Wednesday 23 August 2017
Romania could become the only EU member state to enforce the VAT split payment, and this will have a major impact on Romanian companies. After the new system is implemented, once a service is performed, the suppliers will provide the client with a VAT account.
As a result of public consultations on the initial proposal for introducing a VAT split-payment mechanism the following amendments to the proposal were published on the Ministry of Finance website:
The system will be introduced on a voluntary basis on 1 September 2017 and will become compulsory in October 2017.
EU VAT Updates