- The new consolidated VAT Code, approved by the Council of Ministers, will take effect from January 1, 2027.
- It unifies existing VAT regulations without changing their substance, while repealing current laws and including interpretative norms.
- The Code covers invoicing, registration, tax settlement, and refunds, which were previously considered for separate codes.
- Updates and coordination provisions are included to align with recent legislative changes and other tax codes.
- The structure of the new Code follows the EU VAT Directive, organizing topics such as taxable persons, tax base, exemptions, obligations, and special regimes.
Source: eutekne.info
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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