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Romania cuts VAT to 19% 2017


Romania cuts VAT to 19% 2017

Romania is still on course to reduce its VAT rate from 20% to 19% from 1 January 2017.

This rate cut follows the 2016 reduction from 24% to 20%. Romania originally hiked VAT from 19% to 24% in 2010 at the height of the global financial crisis.

The Romanian economy has continued to perform strongly this year, the EU recently upping its real 2016 growth forecast from 4.2% to 5.2%.

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VP Global Indirect Tax
Richard Asquith
VP Global Indirect Tax Richard Asquith
Richard Asquith is VP Global Indirect Tax at Avalara, helping businesses understand their compliance obligations as they grow globally. He is part of the European leadership team which this year won International Tax Review's Tax Technology Firm of the Year. Richard qualified as an accountant with KPMG in the UK, and went on to work in Hungary, Russia and France with EY.