Changes in several Ministry of Finance orders regarding VAT

An Order ("the Order") has been published amending some rules regarding the cases of application of VAT exemption provided by the Fiscal Code, as well as new rules for VAT registration for newly established companies. The Order amends previous orders related to VAT exemption and registration. The first amendment clarifies that the VAT exemption for supply of goods / services related to ship construction may be applicable in some specific situations provided by the law. Another amendment stipulates that in order to apply the VAT exemption for supply of goods and services performed in the benefit of NATO member forces, a letter must be obtained from the National Defence Ministry confirming that those forces are participating in a common defence activity in Romania. Finally, from 23 April 2012, in the event of registration for VAT purposes the clearance certificate is mandatory for all shareholders regardless of the shareholding percentage.

Why invest romania ?

IR Advantage

Bilateral agreements between Romania and other countries on investments promotion and protection (click here to view);
Bilateral diplomatic relations with 177 out of the 191 UN member states, plus the Holy See, the Sovereign Military Order of Malta and the Palestinian National Authority;
Member of the UN and other international organizations, like: OSCE, Council of Europe and International Organization of La Francophonie;
Free trade agreements with EU, EFTA countries, CEFTA countries;
WTO member since January 1995.


Economical Advantage

Sustainable economic growth;
Decreasing inflation;
Increasing interest on behalf of Foreign Investors – leader destination for FDI in the region (source: Ernst&Young, SEE Attractiveness Survey – SouthEast Europe: An Emergent FDI Destination in Europe, April 2008);
Sound fiscal policy (16% flat tax).

Market & Location Advantage

One of the largest markets in Central and Eastern Europe, still growing
Attractive location: allowing an easy access to Central and Eastern Europe and at the junction of three main prospective European transportation corridors, one of which will cross Ploiesti West Park
Excellent accessibility of Ploiesti West Park

Resource Advantage

Skilled and motivated labour force, with solid knowledge in technology, IT and engineering
Rich natural resources, including oil and gas


Political Advantage


Stable executive power
EU membership since January 2007


Improving Infrastructure Advantage


A highly developed industrial infrastructure, including oil and petrochemicals
Ongoing improvement of the highway infrastructure to EU standards Excellent maritime, air and railway infrastructure and transport available


Building Quality Advantage


New, state-of-the-art buildings with an attractive and modern architecture, benefitting from the latest alternative energy saving techniques

More info

www.pbsworldwide.com

www.belgianconnection.be