Under the current Tax Code, the maximum turnover for VAT exemption is EUR35,000, computed using the central bank’s exchange rate at the time of Romania’s accession to the European Union (roughly 3.3 lei to an euro). The threshold will thus be raised from RON119,000 to RON220,000.
Ponta had earlier said that the Finance Ministry had agreed “in principle” to cancel the retroactive obligation of VAT payment for copyright. He said the state “would not lose much” by eliminating this requirement, imposed by the former management of tax authority ANAF to intimidate the press.
Last year, a number of journalists and artists brought a class action against a decision by ANAF to begin fiscal inspections and retroactively charge VAT on income. The authorities are represented in the action by the Government, the Finance Ministry and ANAF.