27 October 2017
The Romania government is reportedly planning to relax the country's recently introduced split payment system for value added tax (VAT) (previous coverage). As introduced, the split-payment system is optional from 1 October 2017 and mandatory for most taxpayers from 1 January 2018. The mandatory obligation is to be relaxed so that it is limited to taxpayers entering bankruptcy procedures and those with a history of failing to meet their VAT obligations by prescribed deadlines.
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