Governments throughout the world are introducing continuous transaction control (CTC) systems to improve and strengthen VAT collection while combating tax evasion. Romania, with the largest VAT gap in the EU (34.9% in 2019), is one of the countries moving the fastest when it comes to introducing CTCs. In December 2021 the country announced mandatory usage of the RO e-Factura system for high-fiscal risk products in B2B transactions starting from 1 July 2022, and already now they are taking the next step.
Source Sovos
Latest Posts in "Romania"
- Romania Increases Reduced VAT Rate on Agricultural Products and Services to 11%
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- ANAF Implements New Procedure for Reporting Late e-Invoice Submissions by Suppliers
- Romania Launches SAF-T Pilot Program to Enhance VAT Compliance Through Digital Controls
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