March 28, 2018

Law 72 / 23.03.2018 increases the turnover ceiling from which companies must register for VAT purposes from 220,000 lei to 300,000 lei. This Law will apply starting with April 1, 2018. By this law, a derogation to Romania was legislated at national level, through which, between 2018 and 2020, the ceiling up to which the companies will be exempted from the obligation to register for VAT purposes will be the amount of 300,000 lei. “By way of derogation from Article 287 (18) of Directive 2006/112 / EC, Romania is authorized to grant an exemption from VAT to taxable persons whose annual turnover does not exceed the equivalent in national currency of EUR 88,500 at the exchange rate of the day of its accession “, is mentioned in the cited act. The text of the article of the law reads as follows: 10 ^ 1. In Article 310, paragraph 1 is amended to read as follows: Article 310 (1) The taxable person established in Romania according to art. 266 para. (2) lit. a), whose annual turnover, declared or realized, is lower than the ceiling of 88,500 euros, whose equivalent in lei is established at the exchange rate communicated by the National Bank of Romania on the date of accession and is rounded to the next thousand, respectively 300,000 lei, may apply the tax exemption, hereinafter referred to as the special exemption regime, for the operations provided in art. 268 para. (1), except for the intra-community deliveries of new means of transport, exempted according to art. 294 para. (2) lit. b). Consequently, this Law, which increases the ceiling from which companies register as VAT payers, offers the possibility for a wider category of taxpayers not to register as VAT payers. The fiscal environment is constantly changing and in order to be up to date with all the fiscal-accounting activities that your company carries out, you need a reliable partner to support you. Contact us to support the development of your business.