The European Commission decided on Friday to open an infringement procedure by sending a letter of formal notice to Romania, Belgium, Bulgaria, Greece, Spain, Lithuania and Portugal for failing to communicate to the Community Executive the measures for the full transposition of EU Directive 2022/542 regarding value added tax rates. EU member states had to communicate the full transposition of the Directive into national law by 31 December 2024, the EC press release also said. The directive allows for a wider use of reduced rates, including zero rates for essential products such as food, pharmaceuticals or those used for medical purposes. “Member States may exempt supplies of goods and services carried out within their territory by taxable persons who are established in that territory and whose annual turnover at Member State level, relating to those supplies of goods and/or services, does not exceed the threshold set by those Member States for the application of this exemption. That threshold may not exceed EUR 85,000 or the equivalent in national currency. Member States may set different thresholds for different economic sectors, based on objective criteria. However, none of these thresholds may exceed the threshold of EUR 85,000 or the equivalent in national currency,” according to the directive. The European Commission has therefore decided to send a letter of formal notice to the eight EU Member States to complete the transposition and notify their measures to the Community Executive. The mentioned States now have two months to respond to the EC’s requests. In the absence of a satisfactory response, the European Commission could decide to issue a reasoned opinion.
Starting next week, the gardens and interior of the presidential Cotroceni Palace in Bucharest will be open to visitors every weekend, from Friday to Sunday. Interim president Ilie Bolojan announced the initiative, emphasizing it as a gesture of respect and openness from the Presidential Administration. “Every weekend, from Friday to Sunday, this entire area, including […]
GapMinder Fund II, a Venture Capital fund focused on technology companies created in Romania and Eastern Europe, has invested in VoicePatrol, an Artificial Intelligence-based startup for real-time protection against toxic behaviors in multiplayer game voice chats. GapMinder was the lead investor in an Early-Seed round, along with Hyperscope Ventures. The investment will enable VoicePatrol’s technology […]
Ioannis Tsakiris, vice president of the European Investment Bank Group, noted that the bank gave Romania financing worth 1.5% of GDP in 2024, supporting total investments of EUR 5.27 billion. The statements were made during Tsakiris’ visit to Romania, during which he met with Romanian leaders from the ministries of finance, investments and European projects, […]
Approximately 18,000 new homes are expected to be completed in Bucharest and its surrounding areas in 2025, according to the "Romania Residential Market Genome" report by real estate consultant SVN Romania. This figure matches the low level seen in 2024, which marked the lowest number of residential deliveries in the past five years. Almost 17,000 […]
Ford Otosan announced on Friday, March 14, that it began delivering the first electric vehicles (EVs) manufactured in Romania. Series production of the fully electric models Puma Gen-E, E-Transit Courier, and E-Tourneo Courier has begun at the company's state-of-the-art facility...
Tiffin University Romania announces the launch of the Bachelor of Science in Cybersecurity & Information Assurance. The program is designed to equip students with the skills and knowledge necessary to succeed in a field with high potential. In addition, Tiffin University Romania has unveiled a new website, for an improved digital experience for current and […]
