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Explanations from the Ministry of Public Finances regarding the new registering maximum for VAT purposes

The Ministry of Public Finances specified the following regarding the new registering maximum for VAT purposes: “Adequate to current regulations in the VAT field, taxable persons with residence in Romania with a sales figure under the maximum of 35 000 Euros calculated at the adherence date can apply for the special regime for small enterprises regulated in article 152 of Law no. 571 dated 2003 regarding the fiscal Code.

As an effect to our countries solicitation to the European Commission, at its proposal, the EU Council authorized Romania to increase the fore mentioned maximum from 35. 000 to 65. 000 Euros calculated at Romania’s adherence date to the EU. To this matter, the Council adopted on the 26th of March 2012 an EU Council Decision published under no. 2012/181/UE in the Official Journal of the EU no. L 92/26 of 30th of March 2012.

Because, due to information that came to our attention, the publication of the set Decision in the Official Journal of the EU generated some confusions for Romanian taxpayers regarding the inure date for the regulation in the document, we would like to make the following remarks:

Regarding the actual application of the for mentioned measure for which your country had authorization for the EU Council, it is necessary the implementation in our legislation in the VAT field of the regulations regarding the raising of the maximum sales figure to which the special deduction regime for small enterprises can apply, reason for which our fiscal authorities are to regulate these provisions in the internal law and publish in the Official Gazette of Romania, First Part, a law regarding this matter.

So, the regulation of the measure to raise the maximum will be made through a motion to modify and complete the fiscal Code, for this the Ministry of Public Finances is to undergo the necessary procedures.

In conclusion, we underline the fact that, until the publication in the Official Gazette of Romania of a law that changes the maximum sales figure for which the special VAT deduction regime for small enterprises, the current regulation will apply, that state that the maximum is 35 000 Euros calculated at the adherence date, respectively 119 000 RON.”

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Vlad VRINCEANU

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