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Romania to Relax New VAT Split Payment System

|Proposed Changes|Romania
Romania

The Romania government is reportedly planning to relax the country's recently introduced split payment system for value added tax (VAT) ({News-2017-09-06/A/2-previous coverage}). As introduced, the split-payment system is optional from 1 October 2017 and mandatory for most taxpayers from 1 January 2018. The mandatory obligation is to be relaxed so that it is limited to taxpayers entering bankruptcy procedures and those with a history of failing to meet their VAT obligations by prescribed dead…

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