Bill adopted in the Senate on Oct 16.
The VAT split mechanism will become completely optional, without the facilities granted so far to companies that chose to apply this system, as opposed to the obliged ones, companies with VAT or insolvency obligations, foresees a draft law adopted by the Parliament. The change is needed after the European Commission has submitted that the VAT split mechanism, in its current form, is in violation of EU law and must be eliminated. The Commission has approved a request from Romania that the VAT split should remain optional without deductions on the corporate income tax, in which case it will be unattractive for companies.
Source Profit.ro
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