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Romania VAT cash accounting rules change


Romania VAT cash accounting rules change

The Romanian tax office has issued new guidance notes on the application requirements for enterprising using the cash accounting mechanism.

Companies applying for the mechanism must complete form 097.  There have been a number of deadlines set for application, based on the turnover of the company.  Companies must meet these deadlines if they are to secure accession by 2013.

Cash accounting for VAT enables companies to simplify their reporting and minimise the cash-flow impact of full VAT accruals-based reporting.


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.