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.
Track worldwide tax law changes daily across 47 different tax topics
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The world’s most complete array of cross-border tax analysis and data
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Track worldwide tax law changes daily across 47 different tax topics
Calculate US tax impact of foreign operations for reporting, compliance, and planning
Simplify your Country-by-Country compliance and reporting process
Provides the various compliance steps, forms and rates for completion
The world’s most complete array of cross-border tax analysis and data
Pillar 2 risk assessments, reporting, global compliance and forecasting
Comprehensive library of compliance due dates and rules for 195 countries
Automated workflows based on any recurring tax or business process