The legislative proposal to reduce the standard VAT rate from 19% to 16% per Jan 1, 2020 was approved by the Senate.
However, there are few other legal steps to be taken before entering into force.:
- the proposal needs to be adopted by the Chamber of Deputies
- submitted for promulgation to the President of Romania
- it needs to be published in the Official Gazette.
These steps are not yet done.
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Source Zialur Financial
