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VAT deferment on importation of goods extended to AEO operators and those using local clearance procedures

Date: 11/26/2013
 Great news from the Ministry of Finance for AEO (Authorized Economic Operators) holders and for operators authorized for local clearance procedure. Starting today, holders of AEO certificates and operators authorized for local clearance procedure are now included on the list of persons who will benefit from VAT payment exemption.

“These changes, which represent an important step in the cooperation between the tax authorities and the business community, will create a sense of mutual trust”, noted Mihai Petre, Senior Manager Deloitte Tax.

Deferment of import VAT is welcomed not only by the companies directly involved, but also by Romania as a EU Member State, as Pieter Wessel, Partner with Deloitte Tax, explains: "A major advantage of this facility is the impact on VAT refunds and consequently a lessening of the pressure to which Romania was subjected to by the European Commission through the infringement procedure opened in this matter."

Import VAT was often the decisive factor in choosing other European ports than port of Constanta by large importers. “Elimination of import VAT payment will result in an increase in imports processed by customs offices both in Constanta and the rest of the country, turning Romania into a gateway to Europe”, said Mihai Petre.



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Deloitte provides audit, tax, consulting, and financial advisory services to public and private clients spanning multiple industries. With a globally connected network of member firms in more than 150 countries, Deloitte brings world-class capabilities and high-quality service to clients, delivering the insights they need to address their most complex business challenges. Deloitte has in the region of 200,000 professionals, all committed to becoming the standard of excellence.

© 2013 Deloitte Romania

 
 

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