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TaxHouse, Taxand Romania, explains the increase of the ceiling for the special regime applied to small enterprises for VAT purposes.
Decision for implementing special derogating measures from art. 287 of the Directive 2006/112/EC regarding common system of Value Added Tax
On 14 October 2017, the Decision (UE) 2017/1855 – authorising Romania to apply a special measure derogating from Article 287 of Directive 2006/112/EC on the common system of value added tax has been published in the Official Journal of the EU.
Thus, Romania is authorised to exempt from VAT taxable persons whose annual turnover is not higher than the equivalent in national currency of EUR 88,500 at the conversion rate on the day of its EU accession (aprox. RON 300,000).
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This Decision shall apply from 1 January 2018 until 31 December 2020, or until the entry into force of a directive amending the provisions of Articles 281 to 294 of Directive 2006/112/EC, whichever date is the earlier.