VATupdate

Two different VAT rates applied to the same real estate transaction

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

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