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Recent Amendments to Romania's Tax Legislation


Recent amendments published in the Official Gazette include:

  • VAT returns
  • VAT sector more generally
  • Agricultural activities
  • Authorisation and/or registration of entities that perform foreign exchange operations for individuals on Romanian territory
  • Foreign exchange operations
  • Tax registration procedure
  • Monthly tax base of pension provisions.

Taxand Romania looks at these amendments, in particular VAT returns, in detail.

Form 307, the "statement regarding the amounts resulting from VAT adjustment, for the case where the beneficiary of the transfer of assets or the lessee/user of tangible assets acquired under a leasing contract is not a person registered for VAT purposes", has been amended. The new form, "statement regarding the amounts resulting from VAT adjustment" also covers the declaration of the amounts representing VAT as a result of the adjustments made by a taxable person for which the VAT registration has been cancelled ex officio - in cases such as:

  • the taxable person did not submit any VAT returns for 6 consecutive months or 2 consecutive quarters
  • the VAT returns submitted during 6 consecutive months or 2 consecutive quarters did not include any acquisitions or supply of goods/services.

Provisions regarding the method and deadlines for the submission of the form and, if applicable, the payment of the amounts resulted from the VAT adjustment have also been implemented.

Taxand Romania looks at the additional amendments published recently

Taxand's Take

It is important for multinationals to stay abreast of legislative amendments to ensure that they continue to be compliant, even after the wording of orders has been adjusted.

Your Taxand contacts for further queries are:
Angela Rosca
T. +40 21 316 06 45

Cristian Radulescu
T. +40 21 316 06 45

Taxand's Take Author