Romania MOF Announces VAT Exemption Ceiling Increase for Small Businesses

The Romanian Ministry of Public Finance Aug. 28 announced a VAT exemption ceiling increase for small businesses. The announcement includes measures to: 1) increase the national VAT exemption threshold to 395,000 Romanian lei (US$90,296) from 300,000 lei (US$68,579), with the measure entering into force Sept. 1; 2) specify that small enterprises, namely taxable Romanian legal entities that register a turnover below the 395,000 lei threshold, may benefit from the special VAT regime for enterprises in other EU member countries, provided that their turnover doesn’t exceed the EU-wide ceiling of 100,000 euros (US$116,181) and the operations carried out in the member ...