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September 29, 2022
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VAT payment upon cashing invoices system implementation norms, passed

The government session yesterday passed the methodological norms for application of the system of VAT payment upon cashing invoices, with a finance minister order also to authorize the publishing of a relevant guide as well, Mediafax reports. Government spokesman Andrei Zaharescu pointed out that the government decision at stake makes specifications to technical provisions deducted from the calculated taxed profit and the means for recovering the fiscal loss of the taxpayers who are under juridical reorganization. The system will only be applied to juridical persons whose economic operations are carried out in Romania, and the methodological norms clarify the categories of taxed persons to which the VAT payment on cashing invoices applies Jan 1, 2013 onward and those who will apply the system half thru next year.

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