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.
While half of Romanian households manage to save money each month, 57% of these savings are kept in cash, according to the 2024 Debt Barometer, a study conducted by IRES in partnership with KRUK Romania. The research looks at financial habits, spending priorities, and debt payments, highlighting a pressing need for economic education and tailored […]
Romania’s national football team defeated Cyprus, 4-1 (2-0), on Monday, November 18, and consolidated its position as leader in Group C2 of the Nations League. The match began in Bucharest’s National Arena, and Romania scored immediately through forward Daniel Bîrligea. Cyprus responded with their own attacks but Romania scored again right before halftime. Back on […]
In an official statement marking 1,000 days since Russia began its full-scale invasion of Ukraine, US ambassador to Bucharest Kathleen Kavalec said the United States and Romania "stand together to counter the threats posed by Russia in Ukraine and in Europe" and thanked Romania for its support for Ukraine and its citizens. "Romania has shown […]
Radiology and dental tomography network DigiRay has acquired the three Maraffka clinics in Ploiești, a city 60 km north of Bucharest. This is DigiRay's third acquisition after buying the Dental Scan centers in Bucharest in 2021 and YTS Dental View in Oradea, in northern Romania, this year. DigiRay (Clinică Dentară S.A) was founded in 2011 […]
BeeFast, the Romanian tech startup specializing in instant delivery management solutions, announces securing a USD 450,000 investment. The funds will be used to accelerate BeeFast's international expansion and further develop its SaaS (software as a service) platform, which is revolutionizing the way companies manage their ultra-fast delivery fleets. Amid a consistent and organic increase in […]
A new online tool allows the location of Romanian passenger trains, Profit.ro reported. On the Bilete.infofer.ro platform, under the heading "My train/Trenul meu," one can track the position...
