The Orbitax Global Minimum Tax Solution now supports the generation of the Belgium P2 Notification Form in XML format. Find out more or book a demo.
Romania to Cut VAT Rate to 20% in 2016 — Orbitax Tax News & Alerts
On 20 August 2015, the Romanian parliament confirmed a reduction in the standard VAT rate from 24% to 20% effective 1 January 2016, and a further reduction to 19% in 2017. The country had planned to cut the rate to 19% in 2016, but decided to cut the rate in two stages following opposition from the EU Commission and IMF concerning the effect of the rate cut on Romania's deficit.