VATLive > Blog > VAT > Romania increases VAT 5% to 24% - Avalara

Romania increases VAT 5% to 24%

  • VAT
  • 26 June 2010 | Richard Asquith

Romania increases VAT 5% to 24%

Following the failure to pass austerity changes to the national pension scheme on Friday, the Romanian government has chosen to raise the standard Romanian VAT rate from 19% to 24%. This will be effective from 1 July 2010. The move was seen as vital to unlock the next round of emergency funding from the IMF, which is vistiting Bucharest this coming week to authorise the latest draw down.

Romania joins the UK, Greece, Portugal, Spain and the Czech Republic in introducing VAT rises to help reduce huge state deficits.


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.