Romania 2016 VAT changes
The Romanian Parliament has ratified the 2016 VAT Code, with new changes coming into effect on 1 January 2016.
- The standard VAT rate will be cut from 24% to 20% on 1 January 2016. There will be a further 1% cut to 19% in 2017
- The widening of the domestic reverse charge mechanism to construction, precious metals, computer chips, gaming consuls, laptops, computer tablets, mobile phones and precious metals
- Entrances fees to sporting, cultural events, cinema and theatres will be subject to the 5% VAT rate instead of 9%
- Printed books, magazines and newspapers will be subject to the 5% rate
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