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November 14, 2018 Romania announces new reduced VAT rates As of 1 November 2018, the Value Added Tax (VAT) rate has been reduced to 5% for the following categories of services:
The extension of the reduced VAT rate of 5% as of 1 November to the above-mentioned services will have a significant impact, mainly for the economic agents carrying out activities in the HORECA sector (i.e. hotels, restaurants, catering, coffee shops). Thus, these economic agents should analyze the characteristics of the provided services, in order to apply the corresponding reduced VAT rate, namely 9% or 5%. For additional information with respect to this Alert, please contact the following: Ernst & Young SRL, Bucharest
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