The government approved on last Thursday a draft act amending and supplementing the Tax Code, which transposes into national law certain provisions of the European Directive on the common VAT system, and which would apply from January 1, 2024."The provisions regarding the statement submission deadlines for the special regimes provided for at Art. 314, 315 and 315^2 of the Tax Code are clarified, as the last calendar day of each month is expressly established for this, even if it is a non-working day. The current version of the Tax Code stipulates that these statements can be submitted until the end of the following month, after the end of the reporting fiscal period," the Executive said in a release.The government mentions that this way, situations will be avoided where although the statement required for special regimes was duly submitted according to Romanian legislation, there was a possibility for it to be considered overdue according to the legislation of the consumer member states, and the taxable person subject to a special regime in Romania be charged interest and penalties.Also, the regulatory act repeals the provisions regarding the possibility of appointing an authorized tax representative in the case of certain categories of imports brought to Romania from a third territory."For the excise duties charged on the production of natural gas used for technological purposes, provisions similar to those applied to electricity are introduced," the release states."The transposition of this directive into national law will have a favorable impact on the business environment, because, as payment service providers keep records of cross-border payments and make them available to the tax authorities, the latter will have more information to detect e-commerce VAT fraud and to collect additional VAT," the government said.
Homedit, a Romanian brand of premium furniture and home décor, announces the official opening of its first showroom, located in an interwar house in central Bucharest ("The Bamboo House”, located at No.3, Dumbrava Roșie St.). With a total investment of approximately EUR 12 million, the business was founded in 2016 as an online store by […]
The 32nd edition of the Sibiu International Theatre Festival (FITS) begins on Friday, June 20, bringing over 5,000 artists from 82 countries to the city. The events will take place over ten days and will transform the city into an "open-air stage, with large-scale productions, impressive installations, parades, fire shows, live music, aerial dances, and […]
The well-known science and nature channel Discovery is currently marking four decades since its global launch in 1985 with a special series titled "Discovery Changed My Life,” bringing testimonies from personalities whose vision was shaped by Discovery. Among those featured is also Romanian mountaineer and conservationist Alex Găvan. The series premieres on Sunday, June 22, […]
Meta Estate Trust (MET), a holding company operating in the real estate sector, has invested approximately EUR 2 million in a new retail park currently under development in Ciolpani, a commune located on the Bucharest–Ploiești corridor (DN1), it said. The project is scheduled to be completed and handed over to tenants this year, with an […]
Romania benefits from a series of favorable factors that facilitate the growth and expansion of data center capacity and could emerge as a developing market, according to an analysis conducted by the real estate consultancy company Cushman & Wakefield Echinox. A diversified energy mix, with over 50% of energy production coming from renewable sources, along […]
The German company DEHN, a manufacturer of electrical engineering solutions for critical infrastructure, including lightning and surge protection, as well as safety equipment, will open a production site in Piteşti, southern Romania. The facility, the company's first in the country, will expand its capacities to serve customers in Europe. It fits seamlessly into the company's […]
