The Senate voted on Monday October 11, 2021, for the first time for the Romanian tax legislation, to introduce a system with two different VAT rates for a single real estate transaction. Thus, if the price of the purchased home exceeds 450,000 lei, the reduced rate of 5% VAT will be applied up to this threshold, and the standard rate of 19% VAT will be applied on what exceeds 450,000 lei.
Source Profit.ro
Latest Posts in "Romania"
- Amendments to Housing Purchase Register: Reduced VAT Rate Conditions and Notary Procedures
- eInvoicing in Romania
- ECJ VAT C-465/25 (Matin Maier) – Questions – VAT deduction rights when a supplier is deregistered or declared inactive
- VAT Refund Process for Non-Profit Entities: Eligibility, Documentation, and Deadlines
- Romania Publishes Revised VAT Statement 394 Format Following Rate Adjustments
