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Bucharest
April 21, 2021
BUSINESS

New Fiscal Code published in the Official Gazette, to come into force on September 1


Starting on September 1 a lower VAT on bread will be applied and new excises will be introduced for luxury products such as jewelry, yachts and some auto vehicles. Likewise, reverse taxation on the supply of energy for resale will be expanded. Ordinance 16/2013, the ordinance that contains these stipulations, was published in the Official Gazette on Friday, August 2.
Thus, starting on September 1 the VAT on bread and other bakery products (croissants, buns, pretzels, French bread), wheat and rye flour, common wheat and rye will drop to 9 per cent.
Likewise, starting next month excises will be collected again, only once, for: gold and platinum jewelry with the exception of wedding rings (EUR 1 per gram for jewelry up to 14k and EUR 2 per gram for jewelry of over 14k), natural fur items (between EUR 50 and EUR 1,200 per piece), yachts and other engineless ships (EUR 500 per linear meter for the yachts and ships with a length of 8 meters or above, EUR 10 per horse power for ships with engines of over 100 horse power), auto vehicles and SUVs, including those imported or bought from the EU, new or used, whose cylindrical capacity is higher or equal to 3,000 cubic centimeters (EUR 1 per cubic centimeter), hunting rifles and guns for personal use (EUR 50 to EUR 1,500 per piece), live ammunition and other types of ammunition (from EUR 0.1 pt EUR 0.4 per piece).

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