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The taxable persons whose annual turnover is no higher than EUR 88,500 can be VAT exempted

In this issue:
  • Council Implementing Decision (EU) 2020/1260 of 4 September 2020
  • Council Implementing Decision (EU) 2020/1262 of 4 September 2020
 

Council Implementing Decision (EU) 2020/1260 of 4 September 2020

The authorization for Romania to apply the special derogation measure to exempt from VAT taxable persons whose annual turnover is no higher than the equivalent in national currency of EUR 88,500 at the conversion rate on the day of its accession was extended until 31 December 2024.

For more details, you may consult the Official Journal of the European Union L296/6/10 September 2020

 

Council Implementing Decision (EU) 2020/1262 of 4 September 2020

The Decision extends until 31 December 2023 the authorization for Romania to limit to 50% the VAT deduction right on the purchase, intra-Community acquisition, importation, hire or leasing of certain motorized road vehicles, as well as the VAT charged on the expenditure related to those vehicles where the vehicles are not used exclusively for business purposes.

For more details, you may consult the Official Journal of the European Union L296/6/10 September 2020

 

The specialized EY team is at your disposal for clarifying the above aspects.

 
Prepared by:
Andra Tăbăcaru Manager, Indirect Taxes
 
For additional information, please contact:
Alex Milcev, Partner ― Tax & Law Leader Romania
 
Ernst & Young SRL
Bucharest Tower Center Building,
22nd Floor, 15-17 Ion Mihalache Blvd.,
Sector 1, 011171, Bucharest, Romania
Tel: (40-21) 402 4000, Fax: (40-21) 310 7124
Email: office@ro.ey.com
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