Romania’s Fiscal Reforms: VAT Increase for Specific Supplies in 2024

• Romania is assessing its strategy to mitigate its VAT gap and stabilize the economy
• The VAT gap in Romania is calculated to be 36.7% of expected VAT revenue
• High fiscal-risk products need to be submitted via Romania’s e-invoicing national platform
• Romania is proposing a universal B2B e-reporting and e-invoicing mandate
• The Romanian tax authorities are scrutinizing VAT rates
• Romania is considering a new 9% VAT rate for beverages
• VAT rates on specific supplies may increase in 2024
• Categories potentially impacted include social housing, solar panels, and specific food deliveries
• Specific sugary foods will be subject to a higher standard rate of 19%
• These fiscal reforms have been presented to Parliament

Source: kofax.com

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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