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Romania: Cash accounting scheme for VAT

The deferment of the VAT chargeability will be applicable only to taxable persons registered for VAT purposes and with the place of business in Romania. The system does not apply to persons not registered for VAT purposes, taxable persons which are part of a fiscal group, taxable persons not established in Romania, but registered for VAT purposes, or to taxable persons with the place of business in Romania, established through a fixed establishment.

For determining the turnover serving as a reference to calculate the threshold of RON 2,250,000 for already set up companies, the taxpayers have to use the data reported in the VAT returns, submitted for the period 1 October 2011 – 30 September 2012.

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