Summary: Romania Implements e-VAT System, Facing Criticism from Accountants and Entrepreneurs
Key Points:
The Romanian government has approved the e-VAT project, which aims to automate VAT calculations for taxpayers.
The system will use data from e-Invoices and SAF-T to calculate VAT payable, and taxpayers will be required to file a declaration if their own calculations differ.
Accountants and entrepreneurs have criticized the measure, arguing that it will increase costs and bureaucracy without effectively combating VAT evasion.
They also point out that the system will disproportionately affect small taxpayers.
Key Takeaways:
The e-VAT system is intended to improve efficiency and reduce VAT evasion.
However, there are concerns that the system will create additional burdens for taxpayers.
The government needs to address these concerns and ensure that the system is implemented effectively.
Implications:
The e-VAT system could lead to changes in the way businesses manage their VAT compliance.
It is important for businesses to be aware of the new requirements and to seek professional advice if needed.
Additional Notes:
Romania has the highest VAT gap in the EU, at 35%.
VAT is the most important tax for the Romanian state budget.
The government is committed to reducing VAT evasion and increasing tax revenues.
Conclusion:
The e-VAT system is a significant change for Romanian businesses. It is important for businesses to be aware of the new requirements and to take steps to comply. The government should also continue to monitor the implementation of the system and make adjustments as needed.
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